GMR Airports Expands with Strategic Acquisition

GMR Airports is set to acquire a 50% stake in Bird Delhi General Aviation Services for Rs 15.02 crore. This acquisition aims to strengthen the company's position in the airport-related business sector. BDGASPL, established in 2005, focuses on general aviation and associated services at Delhi airport.

Devdiscourse News Desk | New Delhi | Updated: 08-01-2025 20:23 IST | Created: 08-01-2025 20:23 IST

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GMR Airports has announced its decision to purchase a 50% stake in Bird Delhi General Aviation Services. The acquisition deal, valued at Rs 15.02 crore, aims to enhance GMR's influence in airport-related sectors.

According to a regulatory filing on Wednesday, GMR has signed a share purchase agreement targeting up to 5 lakh equity shares and 1.90 crore non-cumulative compulsorily convertible preference shares of BDGASPL. This acquisition represents 50% of BDGASPL's paid-up share capital.

Established in 2005, BDGASPL focuses on the development and operation of the general aviation terminal and other related facilities at Delhi airport, generating Rs 64.51 crore in revenue in the fiscal year 2023-24.

(With inputs from agencies.)