GQG Partners has acquired a significant stake in GMR Airports Infrastructure through block deals. Exchange data showed that the investment company has acquired a 4.7 per cent stake in the airport operator for about ₹1.672 crore at a price of ₹59.09 a share.
More than 12 per cent of equity had changed hands on the bourses in three major block deals at prices ranging from ₹58.2 to ₹59.25. Other buyers included the Nomura India Investment Fund and the Stichting depositary APG Emerging Markets Equity Pool.
UK-based foreign portfolio investor ASN Investments sold its entire 7.27 per cent stake in GMR Airports, selling close to 44 crore shares, an exchange filing said. Other FPIs who exited the stock included A/D Investors Fund and Varanium India Opportunity Fund.
GMR Airports Infra, which runs airports in Delhi, Hyderabad, Goa and has two airports in Indonesia and the Philippines in its portfolio, has seen a 26 per cent rise in traffic in the first eight months of FY24, handling 6.9 crore passengers. In FY23, it handled 10 crore passengers.
Its stock has appreciated 73 per cent over the past one year.
In another major transaction, Softbank sold around a 1.1 per cent stake in food aggregator and delivery company Zomato. Softbank’s group company, SVF Growth Singapore Pte, sold 9.4 crore shares at ₹120.50 each for a value of ₹1,132.7 crore. The Japanese investment company had a 2.17 per cent stake in Zomato at the end of September.
Buyers included Fidelity Investment, Blackstone, Citigroup, and a number of domestic mutual funds and international funds.
The company’s stock price has doubled over a one-year period, with about a fifth of those gains coming over a 90-day period. It surprised the market in the September quarter with good growth momentum, with gross order value rising 9 per cent sequentially to ₹7,980 crore. The ordering frequency also rose nearly 4 per cent, with more people joining its membership-based Zomato Gold programme.