GMR Infra to seek shareholders' nod for minority stake sale in airport biz

GMR Infrastructure Ltd on Saturday said it will seek shareholders' nod for minority stake sale in its airport business.

In a notice to shareholders, the company sought approval for "divestment of minority equity stake in GMR Airports Ltd".

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

Aeroports de Paris SA (ADP) would buy 100 per cent stake in GMR Infra Services Ltd and then 49 per cent shareholding in GAL. GMR Infra Services is an operating and holding company. Its primary business is to hold shares in GAL.

The company will also seek nod for divestment of entire equity stake in GMR Kamalanga Energy Ltd held by GMR Energy Ltd, a subsidiary of the firm.

On February 17, JSW Energy had announced signing a share purchase agreement to acquire 100 per cent of GMR Kamalanga Energy Ltd, which owns and operates a 1,050 MW (3x350 MW) thermal power plant in Odisha, for Rs 5,321 crore (subject to working capital and other adjustments).