GMR Group, the parent of GMR Airports Ltd., on Wednesday announced that it has secured funding of Rs 6,300 crore from the Abu Dhabi Investment Authority.GMR Group, in a media release, said it has executed an agreement with a wholly-owned subsidiary of ADIA in the structured debt instruments of GMR Infra Enterprises Pvt.Upon completion of the investment, GMR Group will use the proceeds to "refinance all external debt" of GMR Enterprise Pvt., which is the promoter of GMR Airports. This will also result in a significant reduction in the GMR promoter group's pledge on its shareholding in GMR Airports, the release said. Through this exercise, GMR Enterprise will be able to consolidate multiple lenders into a single source of capital, it added.GMR Airports Gets Green Light To Upgrade And Operate Nagpur's International Airport"This investment from ADIA will facilitate the repayment of all external debt at GEPL, strengthening our ability to support the continued growth of GAL," GMR Group Corporate Chairman Kiran Grandhi said.Over recent years, the group has successfully reduced a significant quantum of corporate debt, he added.Khadem AlRemeithi, executive director of the infrastructure department at ADIA, said the investment aligns with their approach of "backing entities which are developing world class transport assets that benefit from demographic growth and increased economic connectivity.""India's aviation sector has strong growth prospects, backed by the positive long-term fundamentals of the Indian economy, while GMR Group is one of the country's leading airport operators," AlRemeithi added. Notably, the group operates the key airports of Delhi and Hyderabad.Shares of GMR Airports settled 2.2% higher at Rs 82.19 apiece on the BSE, compared to a 0.17% decline in the benchmark Sensex. The stock is up 1.9% on a year-to-date basis, and has climbed by 51.5% over the past 12 months.Out of three analysts tracking the stock, one has a 'buy' rating and two recommend a 'sell'. The average of 12-month analysts' price target implies a potential upside of 7.6%.GMR Airports Records Highest-Ever Passenger Traffic In First Half Of FY25