The GVK Power and Infrastructure has credited to be the largest stakeholder in Bangalore Airports subsequent to picking up another 14% shares at Rs 614 crore from Siemens.

While commenting on the scenario, Analysts Deepak Agrawala and Bharat Parekh from Bank of America Merill Lynch (BAML) backed the raised concerns over the price at which GVK has bought stakes from Siemens. Sources have revealed that GVK has paid Rs 114-per share, almost two times more than its original offer to the German company two years ago, and now acquires 43% shares in Bangalore Airport.

During a conversation with media persons, the Chairman of GVK Power & Infrastructure, GVK Reddy said that BIAL has a strapping potential. Further, he marked it as an exceptional contract because the company possesses rights for the management control of the airport at present.

"We will develop real estate but do not expect Rs 114 per share to be earnings dilutive. Moreover, we are planning to acquire 26% from Siemens in the next two years”, added GVK Reddy. In addition, Reddy has claimed that the firm will take its holding to 69% in BIAL.

Meanwhile, the GVK was observed to gain 4% to Rs 18.05, during the afternoon trade on the Bombay Stock Exchange, on Tuesday.