GMR Infra

Current fair value of Rs 48-Rs 50 indicates room for upside

Loans would be repaid progressively over 15 years, giving the company additional time of about seven years to extinguish the liability

Group power company to raise Rs 3,000 cr separately

DVI Fund Mauritius Ltd, a public shareholder of GMR Infrastructure, on Thursday divested 3.3 per cent stake in the airports handling company for Rs 720 crore through an open market transaction. The shares were picked up by C/D Investors Fund LP, A/D Investors Fund LP, DVG 1740 Fund LP, Veda Investors Fund LP, H/D Investors Fund LP, Deccan Value Investors BPI Fund LP and Deccan Value Investors Fund LP, block deal data with the BSE showed. According to the data, DVI Fund Mauritius sold a total of 19,84,17,768 shares, amounting to 3.28 per cent stake in the company. The shares were offloaded at an average price of Rs 36.3 apiece, taking the transaction size to Rs 720 crore. As on March 2022, DVI Fund Mauritius Ltd held 7.76 per cent stake in the company, shareholding data with the exchange showed. Shares of GMR Infrastructure closed 0.55 per cent higher at Rs 36.50 on BSE. In a separate block deal, Deccan Value Advisors Fund IV sold 5.1 crore shares worth Rs 112 crore of GMR Power a

GMR Infrastructure Ltd (GIL) has started trading at the stock exchanges as a pure-play airport sector company from Tuesday onwards, according to a statement.

The stock was trading at its highest level since December 2010.

Data Patterns is likely to witness a bumper listing, with Grey Market Premium (GMP) indicating a likely 45-50 per cent premium to its issue price.

Bharti Airtel has hiked tariff on pre-paid plans by 20-25 per cent.

Diversified conglomerate GMR Infrastucture has posted a consolidated loss of Rs 725 crore for the January to March quarter as compared to a loss of Rs 1,127 crore in the year-ago period

The company has signed definitive agreements for the sale of equity owned by its wholly owned subsidiary GMR SEZ and Port Holding of its entire 51 per cent stake in Kakinada SEZ to Aurobindo Realty

The stake sale is valued at Rs 2610 crore, of which Rs1,600 crores would be received on the closing date and balance Rs 1,010 crore would be received in the next two to three years

Revenues from the Airports segment stood at Rs 494 crore in the first quarter against Rs 1460 crore in the April-June quarter of FY20

As per the document, 4,650 acres area there has been notified as SEZs and utility and environment approvals are in place

All that happened in the markets today

The group would develop, maintain and operate the airport for 40 years, extendable by another 20 years via international competitive bidding

On February 21, it was announced that Groupe ADP would acquire 49 per cent stake in GMR Airports for Rs 10,780 crore

The diversified group had earlier announced offloading 44.44 per cent shareholding in the airport business

"We wish to submit that GMR Infrastructure Ltd has not raised any funds from Tata-GIC," the company said.

Jewar airport at its full capacity is projected to cater to over 70 million passengers per annum with six runways and will be competitor to GMR- owned DIAL

The airport will handle 70 million passengers and 3 million tonnes cargo annually when fully developed.