GMR Power & Urban Infra Limited has divested its entire 26% stake in Portus Ventures Private Limited, a joint venture focused on Mumbai Airport land development, to Adani Airport City Limited. The transaction, valued at ₹36,400, was finalized on June 8, 2026, and involves the sale of 2,600 equity shares with a face value of ₹10 each. The buyer does not belong to the promoter or promoter group of GMR Power & Urban Infra Limited.

The agreement for the sale was entered into on June 8, 2026, with the divestment expected to be completed on or before June 17, 2026. The transaction does not fall under related party transactions and is outside the scope of a slump sale or scheme of arrangement. The undertaking sold did not contribute to the turnover, revenue, income, or net worth of the listed entity during the last financial year.

Transaction Details

The key parameters of the divestment are outlined below:

GMR Estate Management Private Limited has proposed the acquisition of up to 7,46,00,000 equity shares, representing 9.55% of the total share capital of GMR Power and Urban Infra Limited . The shares will be purchased from GMR Enterprises Private Limited, a promoter of the target company, through off-market transactions. The move is part of an internal restructuring within the promoter group.

The acquisition is scheduled to take place any time after four working days from the date of the intimation, which is June 04, 2026. GMR Estate Management Private Limited, a wholly owned subsidiary of GMR Enterprises Private Limited, is currently part of the promoter group but not a promoter itself. The transaction will be conducted under Regulation 10(1)(a)(iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which exempts the acquirer from making an open offer.

The price at which the shares will be acquired will not exceed the limits provided in the proviso to Regulation 10(1)(a) of the SEBI SAST Regulations. The volume weighted average market price for the 60 trading days preceding the notice was Rs 107.48 per share. The acquirer has confirmed that the acquisition price will not be higher by more than 25% of the computed price.

Shareholding Pattern

The proposed acquisition will alter the shareholding structure of the target company. GMR Estate Management Private Limited’s holding is set to increase from 15.36% to up to 24.92%. Conversely, the seller, GMR Enterprises Private Limited, will see its stake reduce from 19.73% to 10.18%.

Regulatory Compliance

The disclosure was submitted in compliance with Regulation 10(1)(a)(iii) read with Regulation 10(5) of the SEBI SAST Regulations. GMR Estate Management Private Limited has declared that all conditions specified under Regulation 10(1)(a) regarding exemptions have been duly complied with. The acquirer also confirmed compliance with applicable disclosure requirements under Chapter V of the Takeover Regulations.