GMR Airports Boosts Stake in Major Acquisition Move

GMR Airports Ltd increased its ownership in Delhi airport operator DIAL to 74% by acquiring a 10% stake from Fraport for USD 126 million. The acquisition marks a strategic move to strengthen GMR Group's hold on core assets. Shares fell 1.37% to Rs 72.70 on the BSE.

GMR Airports Ltd has announced the expansion of its stake in the Delhi International Airport Ltd (DIAL) to 74%, following the purchase of a 10% share from Germany's Fraport AG for USD 126 million.

This strategic acquisition underscores GMR Group's commitment to strengthening its control over vital core assets. The move was finalized after securing necessary approvals and fulfilling prerequisite conditions.

Despite the consolidation, GMR Airports' shares experienced a 1.37% decline, closing at Rs 72.70 on the BSE, reflecting market reactions to the announcement.