GMR Airports Infrastructure experienced a notable 3% increase in its shares on the NSE following a substantial share acquisition by GQG Partners. The investment firm acquired shares worth Rs 1,671.5 crore in GMR Airports Infrastructure.
As per exchange data, GQG Partners Emerging Markets Equity Fund and Goldman Sachs Trust II, through Goldman Sachs GQG Partners International Opportunities Fund, procured 28.29 crore equity shares, representing a 4.7% stake in GMR Airports Infrastructure through open market transactions. The acquisition was executed at an average price of Rs 59.09 per share, totaling Rs 1,671.55 crore.
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Nomura India Investment Fund Mother Fund also joined the investment trend by purchasing 6.25 crore equity shares, constituting a 1 percent stake in GMR. Simultaneously, Stichting Depositary APG Emerging Markets Equity Pool secured 3.4 crore shares, reflecting a 0.56 percent stake in GMR, at an average price of Rs 58.20 per share.
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On the divestment front, foreign portfolio investors A/D Investors Fund LP, ASN Investments, and Varanium India Opportunity opted to exit GMR by selling their entire personal shareholdings. A/D Investors Fund LP sold 7.56 crore shares at an average price of Rs 58.20 per share, ASN Investments sold 43.9 crore shares at an average price of Rs 58.21 per share, and Varanium India Opportunity sold 13.9 crore shares at an average price of Rs 58.47 per share.
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“GQG Partners’ substantial investment in GMR Airports signals a clear message: the Indian aviation sector is soaring. This strategic move, acquiring a 4.7% stake in the company, reflects GQG’s bullish outlook on the industry’s robust growth potential,” said Sonam Srivastava, Founder and Fund Manager at Wright Research
Srivastava, also said that the Several factors fuel this optimism: a surging middle class driving passenger traffic, government initiatives like UDAN promoting connectivity, and a booming e-commerce sector propelling cargo movement. GMR Airports, with its existing portfolio and exciting greenfield projects, is well-positioned to capitalize on these trends. Its commitment to efficiency, technology, and sustainability further enhances its competitive edge. This investment not only reinforces the sector’s potential but also paves the way for significant expansion, painting a bright future for the Indian aviation landscape.
