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Corporate News
30-Apr-24
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GMR Airports Infrastructure to acquire minor stake in WAISL
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GMR Airports Infrastructure has entered into a share purchase agreement to acquire 4,60,000 equity shares of Waisl (WAISL) (representing 8.40% of the equity shares of WAISL) from Utthishta Virat Fund, an existing shareholder of WAISL, for a total consideration of Rs. 56.66 crore.
WAISL was incorporated on 22 October 2009, under the Companies Act, 1956 and is engaged in the business of delivering world-class, end to end digital infrastructure at airports and operates as an exclusive partner for IT services at airports. Revenue from operations of WAISL for the FY 2023, 2022 and 2021 were Rs.391 crore, Rs.152 crore and Rs.143 crore respectively.
The Company has been exploring opportunities of investing in entities engaged in Airport adjacencies/ Airport related businesses etc. to strengthen its presence in all aspects of airport related / airport adjacent businesses.
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