GMR Airports Ltd increases stake in GMR Hyderabad International Airport Ltd

GMR Airports Limited ("GAL"), a subsidiary of GMR Airports Infrastructure Limited, along with its affiliate have entered into a Share Purchase Agreement ("SPA") with Malaysia Airports Holdings Berhad ("MAHB") and MAHB's wholly owned subsidiary, MAHB (Mauritius) Private Limited ("MAMPL") towards acquisition of the 11% equity shareholding of GMR Hyderabad International Airport Limited (GHIAL) (step down subsidiary) held by MAHB and MAMPL (MAHB Group).

This is to further inform that the process of transfer of shares and exchange of consideration between the MAHB Group and GAL has been concluded.

Post these acquisitions, GAL shareholding in GHIAL now stands increased from 63% to 74%.

Shares of GMR Infrastructure Limited was last trading in BSE at Rs. 77.34 as compared to the previous close of Rs. 75.70. The total number of shares traded during the day was 2664673 in over 11730 trades.

The stock hit an intraday high of Rs. 79.10 and intraday low of 75.55. The net turnover during the day was Rs. 205772127.00.

Source : Equity Bulls

Keywords

GMRAirportsInfrastructure INE776C01039 GMRAirports StakeIncrease GMRHyderabadInternaitonalAirport