10,20,00,000 Equity Shares Allotted on Conversion of 25,50,000 OCRPS Held by ADP Arm
GMR Airports has allotted 10,20,00,000 equity shares of Re. 1/- each to GMR Infra Services Pvt Ltd (a subsidiary of Aeroports de Paris S.A.) on conversion of 25,50,000 OCRPS.
- Equity Shares Allotted
- 10,20,00,000 equity shares of Re. 1/- each
- OCRPS Converted
- 25,50,000 OCRPS
- Post-Allotment Capital Percentage
- 0.96%
- Total OCRPS Outstanding
- 2,60,44,40,880 OCRPS (each convertible into 40 equity shares)
- Scheme Effective Date
- July 25, 2024
What happened
GMR Airports Limited has allotted 10,20,00,000 equity shares of Re. 1/- each following conversion of 25,50,000 OCRPS (Optionally Convertible Redeemable Preference Shares) after a Notice of Conversion issued by the holder.
Who received them
- GMR Infra Services Private Limited (GISPL), a subsidiary of Aeroports de Paris S.A.
- The new shares are 0.96% of the post-allotment capital and rank pari-passu with existing equity shares.
Background
Under the Composite Scheme of Amalgamation & Arrangement amongst erstwhile GMR Airports Ltd, erstwhile GMR Infra Developers Limited and the Company, effective July 25, 2024, the Company had allotted 2,79,40,26,763 equity shares to Aeroports de Paris S.A. and 25,75,82,066 equity shares to GISPL. GISPL was additionally issued 2,60,44,40,880 OCRPS of Rs. 40/- each, each convertible into 40 equity shares of Re. 1/- each.
What it means for investors
- Only a part of the OCRPS has been converted in this tranche; the balance remains convertible on the same terms.
- Conversions expand the equity base, so existing holders' proportionate stake reduces to that extent.
- This is a scheme-linked conversion rather than a fresh fund-raise.
More numbers
- Equity shares allotted10,20,00,000 equity shares
- OCRPS converted25,50,000 OCRPS
- Share of post-allotment capital0.96%
- Total OCRPS issued to GISPL2,60,44,40,880 Optionally Convertible Redeemable Preference Shares
- OCRPS face valueRs. 40/- each
- Conversion ratio per OCRPS40 equity shares of Re. 1/- each
- Equity shares earlier allotted to Aeroports de Paris S.A.2,79,40,26,763 equity shares
- Equity shares earlier allotted to GISPL25,75,82,066 equity shares
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.