Investment management company GQG Partners has picked up a 4.68% stake in India’s largest airport operator GMR Airports Infrastructure through a block deal. It bought 282.8 million shares worth Rs 1,672 crore via two company-controlled funds— Goldman Sachs GQG Partners International Opportunities Fund and GQG Partners Emerging Markets Equity Fund, BSE data showed.
The deal pushed the shares of GMR Airports Infrastructure to nearly 14% on Friday to hit the highest level in over 14 years. The stock closed at Rs 68.89 or 11.73% higher against Thursday’s closing price.
