Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Agreement to acquire equity stake in ESR GMR Logistics Park Private Limited (EGLPPL) ....
Awaiting price reaction for this filing.
GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports, has signed a Share Purchase Agreement to buy the remaining 70% stake in associate company EGLPPL for up to ~Rs. 41.33 crores at a fair value set by an independent valuer. GHAL (a wholly owned subsidiary of GHIAL) already holds the other 30%, so EGLPPL will become a wholly owned subsidiary of GHIAL once the deal closes, expected within one month. EGLPPL is into warehousing and logistics park development in Hyderabad, with FY24 turnover of Rs. 26.77 crores (up from Rs. 7.35 cr in FY23). The move fits GHIAL's Airport Land Development plan to scale its industrial and warehousing asset portfolio around Hyderabad airport.
A small-ticket acquisition (Rs 41 cr) by the subsidiary, so limited direct impact on GMR Airports' earnings. Strategically, it consolidates warehousing and logistics park assets under GHIAL, strengthening the airport city's non-aeronautical revenue potential at Hyderabad.