GMR Airports shares hit fresh 52-week high after GQG Partners buys stake
The Rajiv Jain-led GQG Partners acquired a 4.7% stake in GMR Airports Infrastructure for ₹1,672 crore on Friday.
The Rajiv Jain-led GQG Partners acquired a 4.7% stake in GMR Airports Infrastructure for ₹1,672 crore on Friday.
GMR Airports already holds 63% stake in GMR Hyderabad Airport, and post the acquisition, its stake will increase to 74%
The net loss of GMR Airports widened to ₹441.47 crore in Q4 FY23 compared with loss of ₹141.28 crore in the corresponding quarter of the previous fiscal year.
Aéroports de Paris (ADP) will invest ₹2,900 crore in GMR Airports Infrastructure through 10-year foreign currency convertible bonds (FCCBs).
GMR Airports International BV (GAIBV), a step-down subsidiary of GMR Infra, will sell its stake in Mactan Cebu International Airport, the second busiest airport in the Philippines.