GMR Airports Ltd.'s board of directors will hold a meeting on July 29 to consider and approve issuance of rupee-denominated non-convertible bonds worth Rs 6,000 crore.
The airport operator will raise the funds in one or more tranches or series on a private placement basis for refinancing of its existing non-convertible bonds, according to an exchange filing on Thursday.
The board also aims to approve the unaudited financial results of the company for the quarter ended June 30, 2025.
Shares of GMR Airports closed 0.49% higher at Rs 91.83 apiece on the National Stock Exchange before the announcement, compared to a 0.63% fall in the benchmark Nifty. The stock has fallen 3.63% in the last 12 months but risen 16.89% on a year-to-date basis.
Out of the four analysts tracking the company, three have a 'buy' rating on the stock and one recommends 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 2%.
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