| Log in

GMR Airports acquires 17.03% stake in Delhi Duty Free Services

10 June, 2013

GMR Airports Ltd, a subsidiary of GMR Infrastructure Ltd, has acquired a 17.03 per cent stake in Delhi Duty Free Services Pvt Ltd for an undisclosed amount, as per a stock market disclosure.

Delhi Duty Free Services operates, maintains and manages duty free outlets at Indira Gandhi International Airport (IGI Airport), New Delhi, under concession from Delhi International Airport Pvt Ltd (DIAL) which holds 49.9 per cent in the company; 33.07 per cent stake is held by Yalorvin Ltd, a subsidiary of Aer Rianta International cpt (ARI).

Incorporated in 2009, New Delhi-based Delhi Duty Free Services sells perfumes, cosmetics, confectionery, liquor, tobacco and fashion products IGI Airport. The firm is a joint venture between DIAL, ARI and IDFS Tradings.

Bangalore-based GMR Airports (formerly GMR Airports Holding Pvt Ltd) develops airport projects. The firm is planning to raise Rs 2,000 crore through a public offer this financial year.

In March this year, GMR divested a 70 per cent stake in GMR Energy (Singapore) Pte to FPM Power for $530 million.

(Edited by Joby Puthuparampil Johnson)


Leave Your Comment
GMR to hike stake in Delhi International Airport to 64% for $79M

GMR to hike stake in Delhi International Airport to 64% for $79M

Bhawna Gupta 3 years ago
GMR Infrastructure Ltd, through its subsidiary GMR Airport Ltd (GAL), has inked...
GMR-controlled DIAL to sell 26% stake in Delhi Cargo Service Centre to IDFC Alt

GMR-controlled DIAL to sell 26% stake in Delhi Cargo Service Centre to IDFC Alt

Anuradha Verma 3 years ago
Delhi International Airport Pvt Ltd (DIAL), a subsidiary of GMR Infrastructure...
GMR's Airport Biz Raises $131M From StanChart PE, JM Fin-Old Lane

GMR's Airport Biz Raises $131M From StanChart PE, JM Fin-Old Lane

Madhav A Chanchani 6 years ago
GMR Infrastructure’s airport arm has raised $131 million (Rs 584.60 crore)...
No Comments

GMR Airports acquires 17.03% stake in Delhi Duty Free Services

Powered by WordPress.com VIP