GQG Partners acquired a 4.7 per cent stake in GMR Airports Infrastructure on Friday, sending the stock up 12 per cent.
The US-based boutique investment firm, which has gained prominence because of its successful investments in Adani group stocks, purchased shares at Rs 59.1 each, amounting to a total outgo of Rs 1,672 crore, according to data provided by BSE. The GMR Group firm’s shares, on the other hand, closed at nearly Rs 69 apiece following the uptick.
ASN Investments divested a 7.3 per cent stake. Other sellers included Varanium India, A/D Investors Fund, and Deccan Value Investors Fund, all classified as non-promoter entities. Equity stakes amounting to 11.8 per cent, valued at Rs 4,136 crore, changed hands.
