GMR Infra gains after subsidiary hikes stake in DIAL to 64%

GMR Infrastructure gained 1.17% to Rs 14.65 at 10:35 IST on BSE after the company's subsidiary GMR Airports acquired an additional 10% stake in Delhi International Airport.

Meanwhile, the S&P BSE Sensex was down 68.70 points or 0.25% at 27,575.18

On BSE, so far 3.88 lakh shares were traded in the counter as against average daily volume of 22.28 lakh shares in the past one quarter.

The stock hit a high of Rs 14.82 and low of Rs 14.46 so far during the day. The stock had hit 52-week high of Rs 37.58 on 10 June 2014. The stock had hit a 52-week low of Rs 14.14 yesterday, 25 May 2015.

The mid-cap infrastructure company has equity capital of Rs 529.58 crore. Face value per share is Re 1.

GMR Infrastructure after market hours yesterday, 25 May 2015 said that pursuant to the definitive agreement executed on 24 March 2015 and completion of all conditions precedent, GMR Airports (GAL), a subsidiary of the company, on 25 May 2015 has acquired 24.50 crore shares, representing 10% equity stake in Delhi International Airport (DIAL) from Malaysia Airports (Mauritius) (MAMPL) for a revised consideration of $80 million in line with the terms of the definitive agreements. DIAL is a special purpose vehicle formed to carry out development, operation and management of IGI airport, Delhi. With the acquisition of stake from MAMPL, GAL equity stake in DIAL has increased to 64%.

GMR Infrastructure a part of GMR Group is the infrastructure holding company formed to fund the capital requirements of various infrastructure projects across the sectors. It undertakes the development of the infrastructure projects through its various subsidiaries.

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