GMR AIRPORTS LIMITED has informed the Exchange about Stake Sale in Delhi Aviation Services Private Limited (DASPL), an associate company by Delhi International Airport Limited (DIAL)
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GMR Airports Limited's subsidiary, Delhi International Airport Limited (DIAL), has sold its entire 50% stake in Delhi Aviation Services Private Limited (DASPL) to Bird Flight Services (India) Private Limited (BFS) for approximately INR 12.79 Crores. DASPL was originally given a concession to manage ground support equipment such as ground power units and pre-conditioned air units at Terminal 3 of IGI Airport, but that concession has ended and the company is currently not carrying out any business operations. BFS, which is already in the ground handling business at IGI Airport, previously held a 25% equity stake in DASPL. The transaction is not a related party transaction and does not trigger any SEBI Regulation 37A sale requirements.
This is a minor, non-material divestment of a non-operating associate company for GMR Airports shareholders, with no impact on the core airport business and negligible financial significance at the consolidated level.