GMR Airports Infrastructure announced on Tuesday its acquisition of an 8.4 percent stake in WAISL, a provider of digital infrastructure services at airports. This move is part of GMR's strategy to enhance its position in airport-related businesses. According to a regulatory filing, the company has entered into an agreement to purchase 4,60,000 shares, equivalent to an 8.4 percent stake in WAISL, from Utthishta Virat Fund for Rs 56.66 crore.
Established in 2009, WAISL specializes in delivering digital infrastructure solutions at airports and serves as the exclusive partner for IT services in airport operations.
In its filing, GMR Airports Infrastructure stated that it has been actively exploring investment opportunities in entities involved in airport adjacencies and related businesses to bolster its presence across all facets of airport-related operations.
GMR Airports Infrastructure operates under GMR Airports Ltd (GAL), which manages various airports, including those in Delhi, Hyderabad, Goa, and the Philippines.
Following this announcement, shares of the company experienced a 2.75 percent decline, trading at Rs 85.19 apiece in late afternoon trade on the BSE.
