GQG Partners Boosts GMR Airports Stake to 5.17%

New Delhi, Aug 28 (PTI) Private equity player GQG Partners has hiked its stake in GMR Airports Infrastructure to 5.17 per cent by snapping up additional shares worth over Rs 433 crore through open market transactions.

GQG Partners, also a key investor in Adani Group, purchased 0.43 per cent stake in GMR Airports Infrastructure on August 23, according to a regulatory filing on Wednesday.

Prior to the transactions, GQG Partners held a 4.74 per cent shareholding in the company.

Through its affiliates, Fort Lauderdale-based asset management firm GQG Partners acquired an additional 0.43 per cent or over 4.52 crore shares. At the closing price of Rs 95.85 apiece on August 23, the shares are worth more than Rs 433 crore.

Earlier, GQG Partners held 7.66 per cent stake in the company but due to corporate actions, the shareholding reduced below 5 per cent, as per the filing.

"On August 23, 2024, the acquirer and PACs (Persons Acting in Concert) acquired further shares of the company, resulting in their shareholding crossing 5 per cent of the share capital of the company," the filing said.

GMR Airports Infrastructure operates through GMR Airports Ltd (GAL) that manages airports segments and RAXA Techno Security Solutions that manages security solutions, as per its website.

The company operates airports in Delhi, Hyderabad, and Goa as well as Mactan Cebu International Airport in The Philippines. Besides, it is developing a few other airports.