GMR Airports in talks to raise $500m from AION Capital ahead of IPO

GMR Airports Ltd is in talks to raise around $500 million from special situations fund AION Capital Management Ltd to buy out some of the investors in the country’s largest private airport operator, two people directly aware of the discussions said. The proposed investment by AION, a joint venture between ICICI Bank Ltd and Apollo Global Management, will be a structured transaction with a mix of debt and equity, the people cited above said on condition of anonymity.