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According to the regulatory filing, the company has entered into a share purchase agreement to acquire up to 5 lakh equity shares and up to 1.90 crore non-cumulative compulsorily convertible preference shares of BDGASPL, representing 50% of its paid-up share capital. The total consideration for the transaction is approximately Rs 15.02 crore, to be paid in one or more tranches. BDGASPL was incorporated on August 17, 2005. It operates the General Aviation Terminal, Maintenance Center, and associated facilities at Indira Gandhi International (IGI) Airport, New Delhi. For the fiscal years 2024, 2023, and 2022, BDGASPL reported revenues of Rs. 64.51 crore, Rs. 54.2 crore, and Rs. 47.19 crore, respectively. The said transaction will be in furtherance of the existing business of Airport adjacencies/ Airport related businesses etc. and would strengthen its presence in the airport and airport related businesses. The transaction is not classified as a related party transaction, and the promoters of GMR Airports do not have any interest in the deal. The company also confirmed that no governmental or regulatory approvals are required for the acquisition. The official announcement was made on 08 January 2025 after the market hours. GMR Airports is the largest private airport operator in Asia and the 2nd largest in the world. GMR Airports, a subsidiary of GMR Airports Infrastructure [formerly known as GMR Infrastructure] (GIL), has Groupe ADP as its strategic partner, which is holding a 49% stake. GMR Airports operates the iconic Delhi Airport, which is the largest and fastest-growing airport in India. It also runs Hyderabad Airport, a pioneering greenfield airport known for several technological innovations. The company also operates Manohar International Airport, Goa (Mopa), which is India's first destination airport. The company reported a consolidated net loss of Rs 280.40 crore in Q2 FY25 as compared to a net loss of Rs 91.03 crore recorded in Q2 FY24. Net sales grew by 20.9% year on year to Rs 2,495.46 crore in Q2 FY25. The scrip shed 0.68% to Rs 76.25 on the BSE. Powered by Capital Market - Live News |