DIAL to raise ₹1,000cr via NCDs for debt repayment
Delhi International Airport Limited (DIAL), part of the GMR Group, is set to raise ₹1,000 crore by selling non-convertible debentures (NCDs).
This move helps them pay off old loans and handle big repayments coming up over the next few years.
The bonds last 15 years and offer an annual interest rate of 8.75%, paid out every quarter.
NCDs rated AA by CARE Ratings or ICRA
The NCDs will be arranged by Axis Bank, Barclays, and Deutsche Bank, and are rated AA by CARE Ratings or ICRA—so pretty solid on the risk front.
There's a call option after five years if DIAL wants to repay early, and a coupon reset is scheduled at the end of the fifth year, with another reset at the 10-year mark under consideration.
With large payments due in October 2026, June 2027, and June 2029, this fundraising helps DIAL stay financially healthy while meeting its debt deadlines.