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Business News/ Companies / GQG buys stake in GMR Airports Infra
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GQG buys stake in GMR Airports Infra

In 2020, Paris-based airport operator ADP purchased a 49% stake in GMR Airports Ltd, a subsidiary of GMR Airports Infrastructure Ltd, with the GMR Group holding the rest

GMR Airports Infrastructure had reported a net loss of ₹190 crore in the July-September quarter. Premium
GMR Airports Infrastructure had reported a net loss of 190 crore in the July-September quarter.

Mumbai: GMR Airports Infrastructure Ltd witnessed a significant shake-up in its shareholding pattern on Friday. Rajiv Jain-led US-based boutique investment manager, acquired a 4.68% stake (282.8 million shares) in the company for 1,671.55 crore via a block deal on the exchange. The average price per share was 59.09.

Other notable investors also participated. Nomura India Investment Fund Mother Fund purchased a 1% stake (6.2 crore shares) for 363.7 crore, while Stichting Depositary Apg Emerging Markets Equity Pool acquired a 0.56% stake (3.4 crore) for 198 crore. Both purchases were made at an average price of 59.09 per share.

However, several entities also opted to offload their holdings. Asn Investments Ltd. sold a 7.27% stake (43.9 crore shares) for Rs. 2,555.8 crore, Varanium India Opportunity Ltd. divested a 2.3% stake (13.9 crore shares) for Rs. 812.7 crore, and A/D Investors Fund L.P. sold a 1.36% stake (7.56 crore shares) for 440.28 crore. The average selling price for these transactions stood at Rs. 58.2 per share.

Deccan Value Investors Fund L.P. was the final seller, parting ways with a 0.9% stake (5.6 crore shares) for Rs. 326.97 crore. This transaction also saw an average selling price of Rs. 58.2 per share.

In 2020, Paris-based airport operator ADP purchased a 49% stake in GMR Airports Ltd, a subsidiary of GMR Airports Infrastructure Ltd, with the GMR Group holding the rest. Airports under GMR Airports Ltd include independent operating entities for Delhi, Hyderabad, Mopa in Goa, Bidar, Bhogapuram and Crete in Greece.

GMR Airports Infrastructure had reported a net loss of 190 crore in the July-September quarter. The company had reported a net loss of 197 crore in the same period last year. The total income for the company increased 25% on year to 1607 crore.

The total passenger traffic for the company was up 25% on year to 26.5 million passengers in the September quarter.

 

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Published: 08 Dec 2023, 11:47 PM IST
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