GMR Airports to pick up 50% stake in Bird Delhi General Aviation

9 Jan 2025 , 10:20 AM

GMR Airports Ltd announced on Wednesday (January 8) that it has entered into a Share Purchase Agreement with Bird Delhi General Aviation Services Private Ltd (BDGASPL) to acquire up to 5,00,000 equity shares and 1,90,00,000 Non-Cumulative Compulsorily Convertible Preference Shares (CCPS), which represent 50% of the company’s paid-up share capital.

The acquisition will be completed in one or more tranches for a total of roughly ₹15.02 Crore. BDGASPL, founded on August 17, 2005, under the Companies Act of 1956, specializes in the development and operation of the General Aviation Terminal, Maintenance Center, and other facilities at Indira Gandhi International (IGI) Airport in New Delhi. 

BDGASPL has shown constant revenue growth in the last three fiscal years, with operational revenues of ₹64.51 Crore in FY 2024, ₹54.2 Crore in FY 2023, and ₹47.19 Crore in FY 2022.

This acquisition will boost the company’s position in airport-related operations and complement its current portfolio. The transaction is not a related party transaction, and GMR Airports’ promoter group has no interest in it.

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