GMR Infra to sell stake in cargo venture to IDFC Alternatives
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GMR Infrastructure today said that it has entered into a definitive agreement to sell its 26% stake in Delhi Cargo Service Centre.
Delhi Cargo Service Centre, a joint venture between Cargo Service Center India Private Limited and Delhi International Airport (Private) Limited (DIAL), operates cargo operations at DIAL.
In a filing to the BSE on Monday, GMR said DIAL had agreed to sell 10.9 million equity shares of face value of Rs 10 each to India Infrastructure Fund-II (investment manager -- IDFC Alternatives Limited), for Rs 26.20 per share, aggregating to a total consideration of Rs 28.60 crore.
GMR Infrastrucuture Limited's scrip is currently trading at Rs 18.65 on the BSE, up 0.81% over the previous close of Rs 18.50 a share.
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