GMR Airports Ltd Subsidiary Sells 50% Stake in Delhi Aviation Services for INR 12.79 Crores

GMR Airports Ltd's subsidiary, Delhi International Airport Limited (DIAL), has sold its 50% stake in Delhi Aviation Services Private Limited (DASPL) to Bird Flight Services (India) Private Limited (BFS) for approximately INR 12.79 Crores. DASPL, which was given the concession to manage the operations of bridge-mounted equipment at Terminal 3 of Indira Gandhi International Airport, New Delhi, is currently not carrying on any business operation post the end of the concession period. BFS, which is engaged in the business of ground handling services, already holds 25% equity of DASPL. This transaction is not a related party transaction for GMR Airports Ltd and does not qualify as a sale under Regulation 37A of the Listing Regulations.