Divestment8 Jun 2026, 10:43 pm
GMR Power Divests 26% Stake in Portus Ventures for ₹36,400
AI Summary
GMR Power and Urban Infra Ltd has entered into a share purchase agreement with Adani Airport City Limited to sell its entire 26% stake in Portus Ventures Private Limited (PVPL). The divestment, along with Shree Naman Developers Private Limited's stake sale, is a result of the majority shareholder's exit and aligns with GMR Group's strategy to focus on existing real estate opportunities. PVPL, involved in land development at Mumbai Airport, is in the pre-planning and construction phase. The transaction is expected to be completed by June 17, 2026, with GMR Power receiving ₹36,400 for its stake. Post-transfer, PVPL will no longer be a joint venture of GMR Power.
Key Highlights
- GMR Power divests entire 26% stake in joint venture Portus Ventures.
- Sale to Adani Airport City Limited for ₹36,400.
- Divestment aligns with GMR Group's strategic focus on existing real estate.
- PVPL is a pre-planning/construction phase land development JV at Mumbai Airport.
- PVPL will cease to be a joint venture post-transaction.
Price Impact
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