Business Update30 Apr 2024, 01:33 pm
GMR Airports Infrastructure Buys 8.40% of WaisI Limited for Rs. 56.66 Crore
AI Summary
GMR Airports Infrastructure Ltd has announced the acquisition of 4,60,000 equity shares of WaisI Limited for a total consideration of Rs. 56.66 Crore. This represents 8.40% of the equity shares of WaisI Limited. The transaction does not involve any related party or promoter interest. WaisI Limited, incorporated in 2009, operates in the digital infrastructure business at airports and reported revenues of Rs.391 crores, Rs.152 crores, and Rs.143 crores for FY 2023, 2022, and 2021 respectively. The company is exploring opportunities to strengthen its presence in airport and airport-adjacent businesses.
Key Highlights
- GMR Airports Infrastructure Ltd acquires 4,60,000 equity shares of WaisI Limited.
- Deal worth Rs. 56.66 Crore and represents 8.40% of WaisI Limited's equity shares.
- Transaction does not involve any related party or promoter interest.
- WaisI Limited reported revenues of Rs.391 crores, Rs.152 crores, and Rs.143 crores for FY 2023, 2022, and 2021 respectively.
- Company exploring opportunities to expand presence in airport and airport-adjacent businesses.