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GAL Partners with NIIF

Published on December 10, 2022
Current Context: The National Investment and Infrastructure Fund (NIIF) partnered with GMR Airports Ltd (GAL) to invest in three airport projects.
GAL Partners with NIIF
  • The NIIF will invest in the equity capital of three airports including the international airports (Greenfield) in Mopa (Goa) and Bhogapuram (Andhra Pradesh).
  • A primary investment of INR 6.31 billion will be made by the NIIF in the form of Compulsory Convertible Debentures (CCD) at the GMR Goa International Airport Ltd (GGIAL).
  • This agreement marks NIIF’s first investment in the airport asset and the first direct investment in Goa as well.
  • GMR Group is a multinational conglomerate company that was established in 1978 with its headquarters in New Delhi. The current Chairperson of the company is GM Rao.
  • NIIF is a sovereign wealth fund that was established by the Government of India in 2015 with its headquarters in Mumbai. The current Chairperson of it is TV Mohandas Pai.

Question:

Q.1 The NIIF recently partnered with which of the following to invest in three airport projects?
a. Airport Authority of India (AAI)
b. GMR Airport Ltd (GAL)
c. Blue Dart Aviation Ltd (BDAL)
d. VRH Construction Pvt. Ltd (VCPL)
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