GMR Airports to Acquire Major Stake in Logistics Venture

GMR Airports Ltd is set to acquire a 70% stake in ESR GMR Logistics Park Pvt Ltd through its subsidiary, GMR Hyderabad International Airport Ltd. This move will make the logistics park a wholly owned subsidiary of GMR Hyderabad and aligns with its strategy for diverse airport land development in Hyderabad.

GMR Airports Ltd announced on Wednesday that it will acquire a 70% stake in ESR GMR Logistics Park Pvt Ltd. The stake will be purchased by GMR Hyderabad International Airport Ltd, a subsidiary of GMR Airports.

GMR Hyderabad Aerotropolis Ltd, which already owns 30% of the company, will see ESR GMR Logistics Park Pvt Ltd become a wholly owned subsidiary following the transaction.

The move aligns with GMR Hyderabad's plan to utilize airport land for creating a diverse portfolio of industrial, commercial, and hospitality projects to boost regional socio-economic development.