Emergency medical services provider GMR, backed by KKR, opened on the NYSE with a sharp drop. Shares fell about 10%, dragging its market capitalization to roughly $3.01 billion. The slump followed a strategic reduction in IPO pricing, underscoring the market’s cautious reaction to the company’s public debut.
The Union Cabinet has cleared an upgrade plan for Nagpur International Airport by extending the land lease for MIHAN India Ltd under a public-private partnership. The approval allows GMR Nagpur International Airport Ltd to run and modernize the airport, with passengers and cargo services expected to benefit from improved infrastructure and operations.
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Gautam Adani’s push to become a dominant airport player is triggering alarm among rivals like GVK and GMR. Analysts say the company’s entry looks fast and politically charged, raising the risk of costly missteps. With the Adani Group already under scrutiny, the airport bets could either unlock major returns—or become a serious financial drain if execution falters.
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