GMR Airports completes acquiring Fraport’s stake in DIAL; check key details

“This is further to inform you that on receipt of requisite approvals and fulfilment of conditions precedent, the process of transfer of shares and exchange of consideration between the company and Fraport has been concluded,” GMR said in a statement to the stock exchanges on Friday, March 6.

Post this acquisition, the GMR’s shareholding in DIAL increases to 74% from the earlier 64%.

Shares of GMR Airports on Friday settled at ₹72.62 apiece on the National Stock Exchange, falling 1.48%. The company’s market capitalisation stands at ₹76,679.28 crore.

According to an earlier statement, the deal was expected to be concluded within 180 days from the date of execution of the share purchase agreement.

"The acquisition of an additional stake in DIAL is in line with our objective of consolidating our presence in core assets of the group and signifies the importance of Delhi airport in the overall group portfolio," G Kiran Kumar Grandhi, Corporate Chairman of GMR Group, had said in September 2024.

In August 2024, private equity player GQG Partners hiked its stake in GMR Airports Infrastructure to 5.17% by snapping up additional shares worth over ₹433 crore through open market transactions.

GQG Partners, also a key investor in Adani Group, purchased a 0.43% stake in GMR Airports Infrastructure on August 23.

GMR Airports had reported a net profit of ₹202.1 crore for the third quarter ending December 31, 2024, as compared to a net loss of ₹486.4 crore in the corresponding quarter of the previous fiscal year.

Its revenue from operations rose 19.2% to ₹2,653.2 crore as against ₹2,226.7 crore in the same period last fiscal year.

GMR Airports Infrastructure operates airports in Delhi, Hyderabad, and Goa, as well as Mactan Cebu International Airport in the Philippines.