Disclosure under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")
Awaiting price reaction for this filing.
GMR Airports Limited has been awarded the concession to Operate, Maintain and Manage the existing Cargo Terminal at Indira Gandhi International (IGI) Airport in New Delhi. This follows a directive from the Ministry of Civil Aviation dated May 15, 2025, revoking the security clearance of Celebi group entities operating in India in the interest of national security. Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports, terminated its existing concession agreement with Celebi with immediate effect and granted the same concession to GMR Airports on the existing terms. GMR Airports already holds the required security clearance as a Regulated Agent to handle cargo at airports. The transaction is classified as a related party transaction, conducted on an arms-length basis.
Positive for GMR Airports — it gains direct operational control of a major cargo terminal at one of India's busiest airports, adding a significant revenue stream while ensuring business continuity. The move could strengthen GMR's cargo business and improve consolidated earnings.