GQG Partners increases stake in GMR Airports to 5.17 percent

GQG’s holding in GMR Airports has risen to 5.17%

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26 Aug, 2025 12:21

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GQG Partners has acquired additional 4.5 crore shares or 0.43 percent equity in the company via a bulk deal on August 23, an exchange filing said. With this, GQG has stake in the company has gone up to 5.17 percent.

Initially, Rajiv Jain-led GQG Partners had acquired a 7.66 percent stake in the company in December 2023 via open market transactions at an average price of Rs 59.09 per share, amounting to Rs 1.671.55 crore. However, citing corporate action by GMR Airports, the shareholding fell below 5 percent. Now, GQG has acquired further shares resulting in the shareholding back above the 5 percent mark.

GQG Partners has made significant bets across infrastructure, consumer goods and energy sectors in India's equity market, going beyond its headline-grabbing investments in the Adani Group. In a conversation with CNBC-TV18 in February 2024, Rajiv Jain said his bet on airports is not only on passenger growth but is also a real estate play. "We feel that there are meaningful upsides in these assets," Jain said. Airlines may come and go but airports, if run well, have a very long tail, he added. Airports have the potential to offer not just stable growth but they also trade at a higher multiple for longer, said Jain. "There is a lot of ability to monetise, not only the passenger but the revenue that can be generated in the ecosystem," Jain had said.

Rajiv Jain was born in India but moved to the US in 1990 for his MBA, where he co-founded GQG Partners in 2016 and built it into a multi-billion dollar powerhouse since.

Earlier this month, GMR Airports Infrastructure reported a consolidated net loss of Rs 258.2 crore for the first quarter ending June 30, against a net loss of Rs 122.50 crore in the year-ago period. Revenue from operations increased 19.06 percent to Rs 2,402.20 crore as against Rs 2,017.63 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA stood at Rs 1,016.35 crore in the first quarter of this fiscal over Rs 860.82 crore in the corresponding period in the previous fiscal.