GMR Airports Limited, has announced plans to acquire an additional 10% stake in Delhi International Airport for $126 million. This move will further strengthen their presence in one of India’s busiest aviation hubs.
Currently, the company holds a significant stake in DIA through its subsidiary, Delhi International Airport Private Limited ( DIAL). The proposed acquisition will increase GMR Airports’ shareholding in DIAL to [Current Stake + 10%].
The company expects to complete the acquisition by a combination of primary and secondary share purchases. The primary component will involve the company’s subscribing to new shares issued by DIAL, while the secondary component will involve purchasing existing shares from other shareholders.
The additional investment in DIAL aligns with the company’s strategic vision of expanding its portfolio of high-quality airport assets. Delhi International Airport is a key gateway to India and a major contributor to the country’s economic growth.
Key Benefits of the Acquisition by GMR Airports:
- Enhanced Control: By increasing its stake in DIAL, GMR Airports will gain greater control over the airport’s operations and strategic direction.
- Synergy: The acquisition will enable GMR Airports to leverage its expertise in airport management and development to further enhance DIAL’s performance and efficiency.
- Growth Opportunities: The growing Indian aviation market presents significant growth opportunities for DIAL, and its increased stake will allow it to capitalize on these opportunities.
The acquisition is subject to regulatory approvals and other customary conditions. Once completed, it will solidify GMR Airports’ position as a leading player in the Indian airport sector. This move underscores GMR’s commitment to strengthening its position in the aviation sector. The company is also involved in the operation and management of other airports, international projects in the Philippines, Indonesia, and Greece5.
