GMR Airports Infrastructure Ltd to acquire stake in Waisl Ltd

GMR Airports Infrastructure Limited (Formerly GMR Infrastructure Limited) has entered into a Share Purchase Agreement to acquire 4,60,000 (Four Lakh Sixty Thousand only) equity shares of Waisl Limited (WAISL) (representing 8.40% of the equity shares of WAISL) from Utthishta Virat Fund, an existing shareholder of WAISL, for a total consideration of Rs. 56.66 Crore ("Transaction").

WAISL was incorporated on October 22, 2009, under the Companies Act, 1956 and is engaged in the business of delivering world-class, end to end digital infrastructure at airports and operates as an exclusive partner for IT services at airports. Revenue from operations of WAISL for the FY 2023, 2022 and 2021 were Rs.391 crores, Rs.152 crores and Rs.143 crores respectively. The proposed acquisition of shares by the Company from Utthishta Virat Fund would not be a related party transaction and promoter/promoter group of the Company do not hold any interest in the said transaction.

The Company has been exploring opportunities of investing in entities engaged in Airport adjacencies/ Airport related businesses etc. to strengthen its presence in all aspects of airport related / airport adjacent businesses. There are no governmental or regulatory approvals required for the above acquisition.

Shares of GMR Infrastructure Limited was last trading in BSE at Rs. 87.60 as compared to the previous close of Rs. 90.79. The total number of shares traded during the day was 2716021 in over 14420 trades.

The stock hit an intraday high of Rs. 91.99 and intraday low of 86.97. The net turnover during the day was Rs. 243066023.00.

Source : Equity Bulls

Keywords

GMRAirportsInfrastructure INE776C01039 AirportServices StakeAcquisition Waisl