Kothavalsa Infraventure to acquire GMR Business and Consultancy

GMR Infrastructure Ltd on Monday said Kothavalsa Infraventures Private Ltd proposes to acquire 100 per cent stake in GMR Business and Consultancy (GBC) from GMR Enterprises Pvt Ltd (GEPL).

GBC holds 80.56 crore shares equivalent to 13.35 per cent shares of GMR Infrastructure, said listed entity GMR Infrastructure.

Since there is no transfer of shares of the listed company, the proposed transfer does not trigger the Sebi Takeover guidelines, GMR Infrastructure Ltd said in a regulatory filing.

"Proposed transfer of GBC LLP would be from GEPL to the company and the company being a wholly-owned subsidiary of GEPL, no change in the ultimate holding is contemplated either at GBC or at the equity listed company," it said.