After GMR Airports Exit, ASN Investments Pares Stake In GMR Power
The firm sold 1.4 crore shares at Rs 53 apiece on the stock exchanges, according to bulk deal data.
The U.K.-based ASN Investments Ltd. sold a 2.31% stake in GMR Power and Urban Infra Ltd. for Rs 74.2 crore through open market transactions on Wednesday.
The firm sold 1.4 crore shares at Rs 53 apiece on the stock exchanges, according to bulk deal data.
ASN held a 7.27% shareholding in GMR Power as of September.
Monet Securities Pvt. bought 70 lakh shares (1.15%) at Rs 53.27 apiece, while Sahastraa Advisors Pvt. purchased 61.36 lakh shares (1.01%) at Rs 53 apiece.
Last week, ASN Investments exited GMR Airports Infrastructure Ltd. by offloading its entire 7.27% stake for Rs 2,555 crore. The shares were sold at Rs 58.21 apiece.
The Rajiv Jain-backed GQG Partners picked up a 4.7% stake in the airport operator for Rs 1,671 crore.
In November, GMR Power increased its stake in its subsidiary, GMR Energy Ltd., for $28.5 million. Following this acquisition, the company consolidated its stake in GEL to 86.9%, up from about 57.76% held by it and its subsidiaries.
Shares of GMR Power and Urban Infra closed 4.98% higher at Rs 53.29 apiece on Wednesday, as compared with a 0.05% advance in the BSE Sensex.
