GMR Airports Infrastructure share price jumps 4% to touch 52 week high on exemption from Monthly Annual Fee

share price jumped over 4% to touch a 52 week high on Monday's session in response to few news developments. According to an exchange filing, the company stated that Delhi International Airports Limited (DAIL), a step down subsidiary, has been exempted from paying the Monthly Annual Fee (or MAF) for the period of March 19, 2020, to February 28, 2022, after the arbitral tribunal passed its decision on January 6.

Additionally, the news of the block deal reportedly added to the positive sentiment in the shares. GMR Airports infra share price opened at an intraday low of 80.15 apiece on . GMR Airports share price touched an intraday high of 87.55 per share. According to the exchange filing, DIAL had invoked arbitration against the Airports Authority of India (AAI) to seek certain reliefs that were entitled to it due to the Force Majeure event (Covid 19 period) under the Operation, Management, and Development Agreement dated April 4, 2006 (OMDA).

Refunds of MAF, plus interest, were mandated for DIAL's payments to AAI from March 2020 to December 2020. From January 2021 to February 2022, DIAL has been likewise exempt from paying the MAF. The OMDA's term will be extended by one year and eleven months, or the time period exempted by a force majeure, said the company in an exchange filing.

US based GQG Partners, a boutique investment firm, purchased shares in the GMR Airports Infrastructure block deal last December. Through a block deal on the exchange in December, GQG purchased a 4.68% stake (28.28 crore shares) in the company for 1,671.55 crore. Other significant investors took part.

Stichting Depositary Apg Emerging Markets Equity Pool bought a 0.56% stake (3.4 crore shares) for 198 crore, while Nomura India Investment Fund Mother Fund bought a 1% stake (6.2 crore shares) for 363.7 crore. As per trendlyne data, GMR Airports Infrastructure stock price rose 115.84% and outperformed its sector by 55.27% in the past year.

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