GMR Airports has acquired an additional 49.90% equity stake in Delhi Duty Free Services (DDFS) from Delhi International Airport Limited (DIAL) for ₹1,83,22,37,010. Following the acquisition, GMR now holds 66.93% of the paid-up equity share capital of DDFS. The move will allow the company to explore more duty-free business opportunities in India and abroad.
Stake Acquisition in DDFS
GMR Airports Limited has acquired 3,04,15,621 equity shares, representing 49.90% of the issued and paid-up share capital of its subsidiary company, Delhi Duty Free Services Private Limited (DDFS). The shares were acquired from Delhi International Airport Limited (DIAL), also a subsidiary of GMR Airports. The aggregate purchase consideration for this acquisition amounted to ₹1,83,22,37,010.
Revised Shareholding
With this acquisition, GMR Airports now holds a controlling stake of 66.93% of the paid-up equity share capital of DDFS.
About Delhi Duty-Free Services
DDFS, incorporated on July 7, 2009, is primarily involved in development, operation, management, and maintaining duty-free operations at Indira Gandhi International Airport, New Delhi. The company’s revenue from operations has seen steady growth over the past few years.
Revenue Performance
DDFS’s revenue figures for the past three financial years are as follows:
- FY 2025: ₹2,177.32 Crore
- FY 2024: ₹1,940.98 Crore
- FY 2023: ₹1,541.83 Crore
Strategic Rationale
Given GMR Airports’ appointment as the new concessionaire for the Delhi Duty-Free business and its intention to explore duty-free business opportunities both in India and abroad, acquiring DIAL’s stake in DDFS was considered to be in the company’s best interest. The acquisition was conducted on an arm’s length basis and received approval from relevant authorities.
Source: BSE