GMR Infrastructure's chairman G M Rao has increased his personal stake in the company by buying shares worth Rs 1.61 crore.
According to a GMR filing to BSE, Rao bought 9,17,500 shares of GMR through open market transactions yesterday and post this, his personal holding in the company has increased to 0.0316 per cent.
Rao, who is also one of the promoters of the company, used to hold 0.0081 per cent stake in GMR before the transaction. At the end of September, 16 promoter entities including G M Rao, controlled 71.62 per cent stake in the company. GMR has been in the news recently as Maldives government on Tuesday had cancelled company's contract to operate and modernise Male international airport.
The company had said it was exploring legal options against the Maldivian government's move. Meanwhile, in an another filing, the company said that one of its promoter group firm, GMR Holdings Pvt Ltd has pledged 25,00,000 shares in favour of STCI Finance Ltd.
30/11/12 PTI/moneycontrol.com
