PTI reported hat Mr GM Rao chairman of GMR Infrastructure's has increased his personal stake in the company by buying shares worth INR 1.61 crore.

According to a GMR filing to BSE, Mr 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%.

Mr Rao who is also one of the promoters of the company used to hold 0.0081% stake in GMR before the transaction.

At the end of September, 16 promoter entities including Mr GM Rao controlled 71.62% stake in the company.

GMR has been in the news recently as Maldives government on Tuesday had cancelled company's contract to operate and modernize Male international airport.

The company said that 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.