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GMR Airports Infrastructure to acquire stake in Waisl

30 Apr 2024 Evaluate

GMR Airports Infrastructure has entered into a Share Purchase agreement to acquire 4,60,000 equity shares of Waisl (representing 8.40% of the equity shares of WAISL) from Utthishta Virat Fund, an existing shareholder of WAISL, for a total consideration of Rs 56.66 crore.

WAISL was incorporated on October 22, 2009, under the Companies Act, 1956 and is engaged in the business of delivering world-class, end to end digital infrastructure at airports and operates as an exclusive partner for IT services at airports. Revenue from operations of WAISL for the FY 2023, 2022 and 2021 were Rs 391 crore, Rs 152 crore and Rs 143 crore respectively. The proposed acquisition of shares by the Company from Utthishta Virat Fund would not be a related party transaction and promoter/promoter group of the Company do not hold any interest in the said transaction.

The Company has been exploring opportunities of investing in entities engaged in Airport adjacencies/ Airport related businesses etc. to strengthen its presence in all aspects of airport related / airport adjacent businesses. There are no governmental or regulatory approvals required for the above acquisition.

GMR Airports Infrastructure (formerly known as 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.

GMR Airports Share Price

112.50 0.65 (0.58%)
10-Jul-2026 16:59 View Price Chart
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