GQG Partners Boosts Stake in GMR Airports Infrastructure to 5.17%

Private equity firm GQG Partners has increased its stake in GMR Airports Infrastructure to 5.17% by purchasing additional shares worth over Rs 433 crore through open market transactions. The firm, which also invests in the Adani Group, made the acquisition on August 23. The company operates multiple airports including in Delhi, Hyderabad, Goa, and the Philippines.

Private equity player GQG Partners has expanded its stake in GMR Airports Infrastructure to 5.17% by acquiring additional shares valued at over Rs 433 crore through open market transactions.

GQG Partners, also a significant investor in the Adani Group, bought a 0.43% stake in GMR Airports on August 23, according to a regulatory filing disclosed on Wednesday.

Initially holding a 4.74% stake, the Fort Lauderdale-based asset management firm increased its position through its affiliates. The 0.43% acquisition translates to over 4.52 crore shares at the closing price of Rs 95.85 per share as of August 23.

Earlier, GQG Partners had a 7.66% stake, which fell below 5% due to corporate actions. However, their recent acquisitions have elevated their shareholding to cross the critical 5% mark once again.

GMR Airports Infrastructure, a subsidiary of GMR Airports Ltd, manages airports in Delhi, Hyderabad, Goa, and internationally in Cebu, Philippines. The company is also in the process of developing several other airport projects.

(With inputs from agencies.)