GMR Airports share price rises 2% on this acquisition update, ahead of Q4 Results, amid weak markets
GMR Airports Ltd intimated the National Stock Exchange and the BSE or the Bombay Stock Exchange on Wednesday 21 May 2025 but after the market hours about the acquisition update. GMR Airports in its intimation wasabout Agreement to acquire equity stake in ESR GMR Logistics Park Private Limited ('EGLPPL') by GMR Hyderabad International Airport Limited ('GHIAL').
The GMR Airports in its release said that GMR Hyderabad International Airport Limited(a Subsidiary of the GMR Airport) has entered into a Share Purchase Agreement (SPA) to acquire 70% stake in its associate company, ESR GMR Logistics Park Private Limited, with other shareholders of EGLPPL. The consideration for the acquisition is up to ₹ 41.33 crores at a fair value, which has been determined by an independent valuer.
The acquisition is anticipated to be completed in a month, provided that specific precedents are met and approvals are obtained.
A 30% share in EGLPPL is currently held by GMR Hyderabad Aerotropolis Limited, a fully owned subsidiary of GHIAL. EGLPPL would become a fully owned subsidiary of GHIAL after the deal was completed.
EGLPPL, a GHIAL affiliate firm that was established on December 20, 2018, is involved in the construction of a logistics and storage park in Hyderabad.
For the fiscal years 2024, 2023, and 2022, EGLPPL's turnover was Rs. 26.77 crores, Rs. 7.35 crores, and Rs. 7.83 crores, respectively.
Meanwhile a meeting of Board of Directors of GMR Airports is scheduled on 22/05/2025 ,inter alia, to consider and approve the Audited Financial Results of the Company (Standalone and Consolidated) for the quarter and year ended March 31, 2025.
GMR Airports shares opened at ₹ 87.50 on the BSE on Thursday. At the time of opening the GMR Airports share price was lower than the previous days closing price of ₹ 87.58 for GMR Airports shares. The GMR Airports share price however gained to intraday highs of ₹ 89.35 marking intraday gains of 2% amid weak market. The GMR Airports share price closed at 88.97 almost 1.6% higher on the BSE ahead of Q4 results to be announced soon
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