GMR Infrastructure, the infrastructure holding company of GMR group, announced that GMR Airports (GAL), a subsidiary of GMR Infrastructure entered into an agreement to acquire 24,50,00,000 shares of face value of Rs.10 each, representing 10% equity stake in Delhi International Airport Private (DIAL) from Malaysia Airports (Mauritius) for a consideration of USD 79 million.

DIAL is a special purpose vehicle formed to carry out development, operation and management of Indira Gandhi International Airport, Delhi (Delhi Airport). GAL currently holds 54% equity stake in DIAL and post proposed acquisition of the entire stake of Malaysia Airports, the stake will increase to 64%.

The acquisition is subject to approval from Airport Authority of India, the grantor of concession for Delhi Airport and completion of other customary conditions precedent.

Shares of the company gained Rs 0.2, or 1.3%, to trade at Rs 15.55. The total volume of shares traded was 486,733 at the BSE (9.36 a.m., Wednesday).