Bhogapuram Airport: NIIF plans to infuse Rs 675 crore in the greenfield project
India's largest sovereign-linked alternative-asset manager, the National Investment and Infrastructure Fund (NIIF) planning to invest up to Rs 675 crore in the upcoming greenfield international airport at Bhogapuram in Andhra Pradesh. The airport being developed by the GMR group would be NIIF's second airport investment, after the GMR Goa International Airport Ltd, which operates Manohar International Airport in Goa.
As per the update, the transaction envisages a primary investment by NIIF in the form of Compulsorily Convertible Debentures (CCDs) to be issued by GMR Visakhapatnam International Airport Ltd (GVIAL).
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