Apollo Global Management has submitted a INR 20 billion (US$300 million) bid to acquire the 30 per cent stake in the Hyderabad International Airport Limited from GMR Group, emerging as the front runner in the transaction process. 

Apollo Global Management Abu Dhabi's sovereign fund Abu Dhabi Investment Authority (ADIA) were the companies shortlisted among a group of five firms including Canadian pension asset manager PSP Investments; Flughafen Zürich, and IDFC Alternatives, the private equity firm of IDFC.

GMR Hyderabad International Airport Limited (GHIAL) is a company promoted as a joint venture comprising the GMR Group (63%) in partnership with Government of India (13%), Government of Telangana (13%) and Malaysia Airports Holdings Berhad (11%).

The Company was incorporated to build, design, finance, operate and maintain a world class Greenfield airport at Shamshabad, Hyderabad. The project is based on the Public Private Partnership model (PPP), which is based on a Build, Own, Operate and Transfer (BOOT) basis.