GMR Infrastructure surges with its arms divesting entire stake in four Indonesian entities

05 Sep 2018

GMR Infrastructure is currently trading at Rs. 19.60, up by 0.35 points or 1.82% from its previous closing of Rs. 19.25 on the BSE.

The scrip opened at Rs. 19.20 and has touched a high and low of Rs. 19.65 and Rs. 18.80 respectively. So far 2470511 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 25.00 on 18-Jan-2018 and a 52 week low of Rs. 14.55 on 01-Jun-2018.

Last one week high and low of the scrip stood at Rs. 21.50 and Rs. 18.80 respectively. The current market cap of the company is Rs. 11739.91 crore.

The promoters holding in the company stood at 62.39%, while Institutions and Non-Institutions held 25.06% and 12.55% respectively.

GMR Infrastructure’s step down subsidiaries -- GMR Infrastructure (Overseas) and GMR Energy (Netherlands) B.V. have completed divestment of their entire stake in the four Indonesian entities, namely PT Barasentosa Lestari, PT Duta Sarana Internusa, PT Dwikarya Sejati Utama and PT UNSOCO (together, PTBSL Group Entities), to PT Golden Energy Mines Tbk.(PTGEMS). Upon completion of all the conditions precedent for the transaction, the said PTBSL Group Entities have ceased to be subsidiaries of the company.

Earlier, GMR Infrastructure (Overseas) and GMR Energy (Netherlands) B.V. had signed Conditional Share and Mandatorily Convertible Bonds Purchase Agreement, for divestment of their entire stake in the four Indonesian entities.

GMR Infrastructure is engaged in generation of power, mining and exploration activities, development of highways, infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities and operation of airports and special economic zones.

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