GVK Power surges on 100% acquisition of airport services arm

The company has acquired 10,000 equity shares of Rs 10/- each of GVK Airport Services Pvt ltd

Shares of GVK Power & Infrastructure were up nearly 6% at Rs 8 after the company said that it has acquired the entire capital of its airport services arm.

The company has acqquired 100% equity share capital of GVK Airport Services Private Limited on June 04. 2015 (10,000 equity shares of Rs 10/- each), the release said.

Post the 100% acquisition of GVK Airport Services Pvt Ltd has become a wholly-owned subsidiary of the company, the release added.

The stock opened at Rs 7.60 and touched a high of Rs 8.05. At 12:05PM, over 3.3 million shares were traded on both the stock exchanges.