Delhi International Airport (P) Limited, or DIAL, in which GMR Group has 54 percent stake, raised $522.6 million by issuing 10-year bonds in the international market at a coupon of 6.125 percent.
The proceeds will be used to entirely refinance the company's rupee loans and external commercial borrowings, the company said in a regulatory filing to the Bombay Stock Exchange.
"The launch of the deal at initial price of 6.50 percent and final pricing at 6.125 percent reflected the strength of the book and saw investor interest coming from high quality investors in Asia, Europe and USA," Sidharth Kapur, president, finance and business development, GMR Airports, said in the filing.
DIALhandled 48 million passengers in 2015-16 of which domestic passenger volumes stood at 31 million in 2015-16.
The rest of the stake in DIAL is held by state-run Airports Authority of India (26 percent), and Fraport AG & Eraman Malaysia (10 percent each).
The GMR Group operates two airports in India and one in the Philippines. It also has interests in power and roads.
GMR Infrastructure, the only listed entity of the Group, closed at Rs 13.07 on Friday.