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Indian Transport & Logistics
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GMR Cargo and Logistics (GCLL), a fully owned subsidiary of GMR Airports, announced on November 26 that it has successfully raised a long-term rupee loan of up to ₹750 crore from Axis Bank. According to the company's regulatory filing, the newly acquired funds are for the development of a portion of the cargo city project at Delhi International Airport.

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GMR Cargo and Logistics secures ₹750 cr loan for Delhi Airport Cargo City
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GMR Cargo and Logistics secures ₹750 cr loan for Delhi Airport Cargo City

The company provided Axis Bank with a sponsor support undertaking (SSU) and a pledge or a combination, covering 51% of its GCLL shares.

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