Stocks

Demerged GMR Infra starts trading in bourses

Our Bureau | | Updated on: Jan 11, 2022

Post the demerger of its non-airports business into GMR Power and Urban Infra Limited (GPUIL), GMR Infrastructure Limited has started trading on the stock exchanges as a pure play airports company beginning today.

The stock, after opening at ₹43.50, hit a high of ₹46.65 during the day and closed at ₹44.80. “With this development, for the first time investors now have the opportunity to invest in the airports sector in the country,” a GMR Infra statement has said. “GPUIL shares will start trading independently on the stock exchange in February 2022 after getting approvals from the Securities and Exchange Board of India and stock exchanges.

“The demerger also facilitates strategic partnerships at different platforms allowing businesses to raise capital and leverage synergistic advantages,” it said. Operating assets of GIL include Indira Gandhi International Airport in New Delhi; Rajiv Gandhi International Airport in Hyderabad; Mactan Cebu International Airport in the Philippines (in partnership with Megawide); and Medan Airport, Indonesia (with Indonesia’s Angkasa Pura II).

The company is currently developing three major greenfield airport projects in India and Greece.

Published on January 11, 2022

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