Saturday , October 16 2021

GMR Infrastructure gains on the bourses

GMR Infrastructure is currently trading at Rs. 16.25, up by 0.25 points or 1.56% from its previous closing of Rs. 16.00 on the BSE.

The scrip opened at Rs. 16.00 and has touched a high and low of Rs. 16.30 and Rs. 16.00 respectively.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 25.00 on 18-Jan-2018 and a 52 week low of Rs. 14.55 on 01-Jun-2018.

Last one week high and low of the scrip stood at Rs. 17.50 and Rs. 15.30 respectively. The current market cap of the company is Rs. 9657.51 crore.

The promoters holding in the company stood at 62.39%, while Institutions and Non-Institutions held 25.06% and 12.55% respectively.

GMR Infrastructure (GIL) has received the consent award from the arbitral tribunal based on the settlement agreement signed by it with private equity investor’s namely SBI Macquarie, Standard Chartered Private Equity, JM Financial Old Lane and others (Investors), which had invested an amount of Rs 14.78 billion in the form of Compulsorily Convertible Preference Shares (CCPS) in GMR Airports (GAL) in FY2011 & FY2012.

Pursuant to the settlement agreement, all parties decided to withdraw the ongoing arbitration and pursuant to binding agreements giving effect to the terms of the settlement the Investors (along with certain of their affiliates) would acquire 5.86% equity of GAL at a 100% valuation of Rs 210 billion and receive a payment of Rs 35.60 billion in lieu of their entire CCPS.

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.

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