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GMR Infra to sell stake in cargo venture to IDFC Alternatives

To sell 10.9 million equity shares at Rs 26.20 per share

BS Reporter Hyderabad

GMR Infrastructure today said that it has entered into a definitive agreement to sell its 26% stake in Delhi Cargo Service Centre.

Delhi Cargo Service Centre, a joint venture between Cargo Service Center India Private Limited and Delhi International Airport (Private) Limited (DIAL), operates cargo operations at DIAL.

In a filing to the BSE on Monday, GMR said DIAL had agreed to sell 10.9 million equity shares of face value of Rs 10 each to India Infrastructure Fund-II (investment manager -- IDFC Alternatives Limited), for Rs 26.20 per share, aggregating to a total consideration of Rs 28.60 crore.

GMR Infrastrucuture Limited's scrip is currently trading at Rs 18.65 on the BSE, up 0.81% over the previous close of Rs 18.50 a share.

 

 

 

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First Published: Feb 23 2015 | 12:16 PM IST

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