GMR Airport gains as its arm enters into SPA to acquire 70% stake in ESR GMR Logistics Park
GMR Airports is currently trading at Rs. 87.91, up by 0.33 points or 0.38% from its previous closing of Rs. 87.58 on the BSE.
The scrip opened at Rs. 87.50 and has touched a high and low of Rs. 88.05 and Rs. 87.10 respectively. So far 57385 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 103.70 on 31-Jul-2024 and a 52 week low of Rs. 67.75 on 28-Feb-2025.
Last one week high and low of the scrip stood at Rs. 91.89 and Rs. 84.49 respectively. The current market cap of the company is Rs. 92454.39 crore.
The promoters holding in the company stood at 66.24%, while Institutions and Non-Institutions held 19.22% and 14.54% respectively.
GMR Airport’s Subsidiary -- GMR Hyderabad International Airport (GHIAL) has entered into a Share Purchase Agreement (SPA) to acquire 70% stake in its associate company, ESR GMR Logistics Park (EGLPPL) with other shareholders of EGLPPL at a consideration of up to Rs 41.33 crore at a fair value as determined by an independent valuer.
The acquisition is expected to be concluded within one-month, subject to achieving certain conditions precedents. GMR Hyderabad Aerotropolis (GHAL), a wholly owned subsidiary of GHIAL, already holds 30% stake in EGLPPL. Upon conclusion of the transaction, EGLPPL would become a wholly owned subsidiary of GHIAL.
This transaction will be in furtherance to GHIAL’s strategy of Airport Land Development (ALD) at Hyderabad i.e., building and creating diversified asset portfolios of industrial & warehousing, commercial, Hospitality and Retail, that assist the overall airport and aid socio economic development of the region and to scale up the existing industrial and warehousing asset portfolio.
GMR Airports (formerly GMR Airports Infrastructure), a subsidiary of GEPL, is engaged in development, operation and maintenance of airports along with offering integrated security solutions.
