GQG Partners hikes stake in GMR Airports to 5.17 percent

Private equity player GQG Partners has hiked its stake in GMR Airports Infrastructure to 5.17 percent by snapping up additional shares worth over Rs 433 crore through open market transactions. GQG Partners, also a key investor in Adani Group, purchased 0.43 percent stake in GMR Airports Infrastructure on August 23, according to a regulatory filing on Wednesday.

Prior to the transactions, GQG Partners held a 4.74 percent shareholding in the company. Through its affiliates, Fort Lauderdale-based asset management firm GQG Partners acquired an additional 0.43 percent or over 4.52 crore shares. At the closing price of Rs 95.85 apiece on August 23, the shares are worth more than Rs 433 crore. Earlier, GQG Partners held 7.66 percent stake in the company but due to corporate actions, the shareholding reduced below 5 percent, as per the filing.

"On August 23, 2024, the acquirer and PACs (Persons Acting in Concert) acquired further shares of the company, resulting in their shareholding crossing 5 percent of the share capital of the company," the filing said. GMR Airports Infrastructure operates through GMR Airports Ltd (GAL) which manages airports segments and RAXA Techno Security Solutions which manages security solutions, as per its website. The company operates airports in Delhi, Hyderabad, and Goa as well as Mactan Cebu International Airport in The Philippines. Besides, it is developing a few other airports.