GMR Airports (GAL), a subsidiary of GMR Infrastructure, on Monday completed acquisition of 245 million shares of face value of Rs. 10 each, representing 10% equity stake in Delhi International Airport (DIAL) from Malaysia Airports (Mauritius) (MAMPL) for a revised consideration of USD 80 million in line with the terms of the definitive agreements. Earlier, the company announced that it will pay USD 79 million to purchase 10% stake.
DIAL is a special purpose vehicle formed to carry out development, operation and management of IGI airport, Delhi. With the acquisition of stake from MAMPL, GAL equity stake in DIAL has increased to 64% from 54% earlier.
Shares of the company gained Rs 0.21, or 1.45%, to trade at Rs 14.69. The total volume of shares traded was 373,591 at the BSE (10.31 a.m., Tuesday).