US-based investment firm GQG Partners on Wednesday sold a 1.8 per cent stake in airports operator GMR Airports to Fidelity International for Rs 1,906 crore through open market transactions.
Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund offloaded 19.50 crore shares representing a 1.85 per cent stake in GMR Airports, according to block deal data available on the NSE.
The shares were disposed of at an average price of Rs 97.75 apiece, taking the transaction value to Rs 1,906.12 crore.
Meanwhile, Fidelity International through its affiliate Fidelity Investment Trust Fidelity International Small Cap Fund acquired the same number of shares, as per the data on the National Stock Exchange (NSE).
Shares of GMR Airports rose 1.04 per cent to close at Rs 99.15 apiece on the NSE.
Last month, GMR Airports Ltd (GAL) has swung into the black, posting a profit of Rs 400.49 crore in the three months ended March this year.
The airports operator had incurred a loss of Rs 252.66 crore in the year-ago period, the company said in a regulatory filing.
In the fourth quarter of 2025-26 financial year, total income climbed to Rs 4,042.90 crore from Rs 2,976.76 crore in the same period a year ago, it added.
Source: Economic Times