GVK Power rises on its subsidiary buying additional stake in Bangalore airport

GVK Power & Infrastructure Ltd. | Power Generation/Distribution | Power | BSE: 532708 | NSE: GVKPIL

23 Aug 2011 Evaluate

GVK Power & Infrastructure is currently trading at Rs. 18.15, up by 0.75 points or 4.31% from its previous closing of Rs. 17.40 on the BSE.

The scrip opened at Rs. 17.85 and has touched a high and low of Rs. 18.35 and Rs. 17.70 respectively. So far 5,76,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 51.45 on 13-Sep-2010 and a 52 week low of Rs. 16.05 on 05-Aug-2011.

Last one week high and low of the scrip stood at Rs. 18.35 and Rs. 16.25 respectively. The current market cap of the company is Rs. 2,866.00 crore.

The promoters holding in the company stood at 54.25% while Institutions and Non-Institutions held 28.32% and 17.43% respectively.

Bangalore Airport & Infrastructure Developers (BAIDPL), a step down subsidiary of the GVK Power & Infrastructure has, subject to certain terms and compliances, exercised its right of first refusal, for acquiring 53,844,000 equity shares with a face value of Rs 10 each held by Siemens Project Ventures GMBH. This is equivalent to 14% of the issued capital of Bangalore International Airport (BIAL), at a price of Rs 114 an equity share. The acquisition would be completed after obtaining the requisite approvals, if any.

In 2009, GVK had acquired 17% stake in BIAL from Larsen and Toubro (L&T) for Rs 686 crore and it acquired 12% of Zurich Airport's stake in BIAL for Rs 484.6 crore. Both the deals priced BIAL shares at Rs 105 a piece.

Private promoters of BIAL hold 74% stake while the state-run Airports Authority of India holds the remaining 26%.

GVK Power & Infrastructure is engaged in infrastructure development in areas of power, airports and roads. Incorporated in 1994, the company till date has invested over Rs 5,000 crore in infrastructure projects.

GVK Power & Infra Share Price

2.85 0.01 (0.35%)

12-Jun-2026 16:59 View Price Chart

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