Markets

DVI Fund Mauritius dilutes 3.3% stake in GMR Infra for Rs 720 crore

DVI Fund Mauritius Ltd, a public shareholder of GMR Infrastructure, on Thursday divested 3.3 per cent stake in the airports handling company for Rs 720 crore through an open market transaction.

The shares were picked up by C/D Investors Fund LP, A/D Investors Fund LP, DVG 1740 Fund LP, Veda Investors Fund LP, H/D Investors Fund LP, Deccan Value Investors BPI Fund LP and Deccan Value Investors Fund LP, block deal data with the BSE showed.

According to the data, DVI Fund Mauritius sold a total of 19,84,17,768 shares, amounting to 3.28 per cent stake in the company.

The shares were offloaded at an average price of Rs 36.3 apiece, taking the transaction size to Rs 720 crore.

As on March 2022, DVI Fund Mauritius Ltd held 7.76 per cent stake in the company, sharing data with the exchange showed.

Shares of closed 0.55 per cent higher at Rs 36.50 on BSE.

In a separate block deal, Deccan Value Advisors Fund IV sold 5.1 crore shares worth Rs 112 crore of GMR Power and Urban Infra Ltd through an open market transaction.

The shares were bought by Deccan Value Investors Fund LP, C/D Investors Fund LP, A/D Investors Fund LP, Deccan Value Investors BPI Fund LP, Veda Investors Fund LP, H/D Investors Fund LP and DVG 1740 Fund LP.

According to block deal data available with the BSE, Deccan Value Advisors Fund IV offloaded 51,250,711 shares of GMR Power and Urban Infrastructure Ltd at an average price of Rs 21.9 per scrip, aggregating to Rs 112 crore.

The shares of GMR Power and Urban Infrastructure closed 4.81 per cent higher at Rs 22.90 on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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