NEW DELHI: Shares of GMR Infra jumped 5 per cent in Fridays trade after the company announced the signing of a definitive share purchase agreement with Adani Power for the sale of its entire 47.62 per cent stake in GMR Chhattisgarh Energy, held by its wholly-owned subsidiary GMR Generation Assets.The stake sale is estimated at Rs 3,000 crore.
Following the development, the scrip jumped 5.01 per cent to hit a high of Rs 15.90 on BSE.Meanwhile, the company on Friday said it has executed a share subscription and purchase agreement, with TRIL Urban Transport, a Tata Group company, for a proposed investment of Rs 8,000 crore in GMR Airports.The proposed investment of Rs 8,000 crore will consist of Rs 1,000 crore equity infusion in GAL and Rs 7,000 crore towards the purchase of GAL's equity shares from GIL and its subsidiaries.GMR will now focus on the potential restructuring of the business by way of a demerger of its Energy, Highways, Urban Infrastructure - Transportation businesses, leading to separation of its Airport Business, subject to customary consents including corporate and regulatory approvals, the company said.