Fidelity Investment Trust has completed a significant acquisition in the aviation sector, purchasing ₹1,906.12 crore worth of shares in GMR Airports from Rajiv Jain-backed GQG Partners. According to reports from The Economic Times, the transaction involved 19.50 crore equity shares representing a 1.85 percent stake in the company. The deal was executed through open market transactions on Wednesday, with Fidelity International Small Cap Fund serving as the buyer for the shares sold by GQG Partners. The shares were disposed of at an average price of ₹97.75 per share, taking the transaction value to ₹1,906.12 crore. In a bulk deal on June 3, Goldman Sachs Trust II-Goldman Sachs GQG Partners Intl Opportunities Fund sold 16,27,45,207 shares at ₹97.75 per unit, of which 14,92,50,100 shares were bought by FMRC Fidelity Advisor International Capital Appreciation Fund at the same trade price.
The stake sale comes as GMR Airports reported robust financial performance for the March quarter, posting a profit of ₹400.49 crore compared to a loss of ₹252.66 crore in the year-ago period. As reported by The Economic Times, the airports operator's total income climbed significantly to ₹4,042.90 crore in Q4 FY2025-26 from ₹2,976.76 crore in the same period last year. This strong financial turnaround likely contributed to GQG Partners' decision to monetize its stake at a favorable valuation.
Following the transaction announcement, GMR Airports shares closed at ₹99.15 on the National Stock Exchange, rising 1.04 percent to reflect positive market sentiment. According to The Economic Times, the market response reflects investor confidence in the company's improved financial performance and the strategic value of the stake sale to a major institutional investor like Fidelity. At around 12:19 PM on June 3, GMR Airport shares were trading 4.62 percent higher at ₹103.40 per equity share, with the scrip gaining 3 percent in the past week despite falling 4 percent on a year-to-date basis.
The transaction involved 19.50 crore equity shares representing a 1.85 percent stake in GMR Airports, executed at ₹97.75 per share. As of March 2026, GQG Partners Emerging Markets Equity Fund held 18.5 crore shares (1.75 percent stake) in GMR Airports, while Goldman Sachs Trust II - Goldman Sachs GQG Partner owned 36.75 crore shares (3.48 percent stake). The acquisition represents a substantial increase in Fidelity's position in the aviation infrastructure company. The transaction also involved multiple institutional investors, with Goldman Sachs Trust II-Goldman Sachs GQG Partners Intl Opportunities Fund holding 18.5 crore shares (1.75 percent stake) in the company.
