GMR Power and Urban Infra Sells 26% Stake in Airport Land Venture as Strategic Shift
GMR Power and Urban Infra Limited, alongside Shree Naman Developers Private Limited, has agreed to sell its entire stake in Portus Ventures Private Limited (PVPL) to Adani Airport City Limited. The transaction involves the sale of the company's 26% equity stake in PVPL, a joint venture established for land development activities within the Chatrapati Shivaji Maharaj International Airport in Mumbai.The share purchase agreement was executed on June 08, 2026. This divestment marks GMR Power and Urban Infra Limited’s exit from the project, which has recently transitioned into the construction phase. Following the transfer of the entire stake, PVPL will cease to be a joint venture of the company.
The sale is part of the strategic realignment of the GMR Group. The exit aligns with the group's intention to concentrate its focus on real estate opportunities that have already been identified as existing businesses for the company.
Adani Airport City Limited (AACL) secured the stake, and the details confirm that the buyer does not belong to the promoter or promoter group of GMR Power and Urban Infra Limited. The transaction is noted as Not Applicable regarding related party considerations.
The financial specifics and timeline of the sale are provided below:
| Detail | Information |
|---|---|
| Transaction Date | June 08, 2026 |
| Expected Completion | On or before June 17, 2026 |
| Consideration Received | Rs. 36,400/- for 2600 equity shares of PVPL |
| Buyer Details | Adani Airport City Limited (AACL) |
The details regarding the transaction indicate that neither party has received income or turnover from this unit during the last financial year. The sale provides a defined exit opportunity as the majority shareholder exits the land development venture located within the airport premises.
GMRP&UI Stock Price Movement
Shares of GMR Power and Urban Infra Limited slipped by 2.87% on Monday, settling at ₹105.38 as the stock closed significantly lower from the previous day’s close. The equity traded a volume of 1.3 million shares during the session, marking a decline from its intraday high of ₹108.66.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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