GMR Infra shares soar over 12% on stake sale in airport biz
Shares of GMR InfrastructureNSE 3.54 % on Monday surged over 12 per cent after the CCI gave approval for the GMR group’s proposed 49 per cent stake sale in its airport business to France’s Groupe ADP.The stock hit a high of Rs 26.55, up 12.5 per cent, on the BSE. Later, it shed some gains to trade higher by 10.81 per cent at Rs 26.15.
The Competition Commission of India (CCI) on Friday gave approval for GMR group’s proposed 49 per cent stake sale in its airport business to France’s Groupe ADP.
The regulator’s clearance is through the green channel, which allows for an automatic system for speedy approval of combinations, subject to certain conditions.
