GVK's three promoters sell 3-cr shares to another promoter

Three promoters of GVK Power & Infrastructure have together sold 2.99 crore shares for nearly Rs 27 crore to another promoter group entity.
G Indira Krishna Reddy has sold 90,65,110 shares of GVK Power & Infrastructure at Rs 8.9, while Krishnaram Bhupal sold 1,28,69,395 shares at Rs 8.9 through an open market transaction.
Shriya Bhupal has sold 80,65,000 shares of the company at Rs 9.
Together these three promoters have sold 2,99,99,505 shares for Rs 26.78 crore, as per bulk deal data available at NSE.
Another promoter entity of the company Vertex Projects Ltd has bought 2,99,99,505 shares at Rs 8.93 for Rs 26.78 crore.

The total promoter holding in the company stands at 54.25 per cent, as per March quarter shareholding pattern.

G Indira Krishna Reddy holds 23,03,40,730 shares or 14.59 per cent stake in the company.
Krishnaram Bhupal has 11,81,55,990 shares or 7.48 per cent stake and Shriya Bhupal holds 5,80,65,495 shares or 3.68 per cent stake in GVK Power & Infrastructure, as per the shareholding pattern.
Vertex Projects Ltd has 14,06,32,430 shares or 8.91 per cent stake in the company.
Meanwhile, the diversified group plans to raise more than Rs 3,000 crore by listing its airports arm.
GVK group is the developer of the Mumbai and Bangalore airports.

Shares of the company ended at Rs 9.45, up 3.84 per cent from its previous close on the NSE.