GVK Airport Holdings Limited ("GVKAHL"), a step down subsidiary of GVK Power & Infrastructure Limited, has exercised its right, under "Right of First Refusal" in terms of the Shareholders Agreement dated 4th April, 2006, subject to certain terms and conditions, as may be mutually agreed, regulatory and other approvals and also in accordance with the various contractual agreements between GVKAHL and ACSA Global Limited ("ACSA"), to acquire 12,00,00,000 equity shares of Mumbai International Airport Limited ("MIAL"), constituting 10% of the total paid-up share capital of MIAL, from ACSA at the rate of Rs.77 per share.
Upon completion of this 10% acquisition from ACSA along with the earlier acquisition of 13.5% from Bidvest, the equity shareholding of the GVK Group will increase to 74% from the existing 50.5% of the total paid-up share capital of MIAL.
Shares of GVK POWER & INFRASTRUCTURE LTD. was last trading in BSE at Rs.7.05 as compared to the previous close of Rs. 7.08. The total number of shares traded during the day was 377202 in over 367 trades.
The stock hit an intraday high of Rs. 7.27 and intraday low of 7. The net turnover during the day was Rs. 2669376.