GMR Airports Infrastructure Ltd Share Price – NSE  / BSE

Miscellaneous, Mid Cap

GMR Airports Infrastructure has been renamed as GMR Airports with effect from 11 September 2024.

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GMR Airports Infrastructure (formerly GMR Infrastructure) (GIL) has entered into a Share Purchase Agreement (SPA) with Fraport AG Frankfurt Airport Services Worldwide (Fraport), towards acquisition by GIL from Fraport, of their current minority 10% equity stake in Delhi International Airport (DIAL), a subsidiary of the Company. The said acquisition would be for a negotiated aggregate consideration of USD 126 million.

GIL currently holds 64% of the paid-up capital of DIAL and post the proposed acquisition, its stake in DIAL would increase to 74%. Airports Authority of India (AAI) continues to holds 26% equity stake of DIAL. Post consummation of the Transaction, Fraport's appointment as the Airport Operator of DIAL shall continue to be governed by the Airport Operator Agreement and/or any other agreement(s) executed in relation to its role as the Airport Operator.

The transaction, subject to the AAI's approval and approval of GIL Shareholders, along with customary closing conditions, is expected to be concluded within 180 days from the date of execution of the said SPA.

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GMR Airports Infrastructure announced that the 28th Annual General Meeting (AGM) of the company will be held on 16 September 2024.

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Subsequent to the issuance of the LOA, the company has entered into a license agreement on 21 August 2024 towards the said Delhi Duty Free Concession, to take up the operations from 28 July 2025 onwards.

The company stated that GMR Airports (since merged into the company) had participated in the bidding process and submitted its bid for the RFP issued by DIAL for the grant of license for a long-term period to design, develop, finance, set up, operate, manage and maintain the Duty Free Outlet(s) at IGI Airport, New Delhi in April 2024.

GMR Airports Infrastructure is mainly engaged in development, maintenance and operation of airports, generation of power, coal mining and exploration activities, development of highways, development, maintenance and operation of special economic zones.

The firm reported a consolidated net loss of Rs 337.57 crore in Q1 FY25 as against a net profit of Rs 15.45 crore recorded in Q1 FY24. Revenue from operations increased 19.06% year on year (YoY) to Rs 2,402.20 crore during the June 2024 quarter.

Shares of GMR Airports Infrastructure added 0.84% to currently trade at Rs 95.60 on the BSE.

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