GMR Airports Raises Stake in Delhi Duty Free Services to 66.93%

GMR Airports Limited has increased its ownership in Delhi Duty Free Services Private Limited (DDFS) by acquiring an additional 49.90% equity stake from Delhi International Airport Limited (DIAL), a subsidiary of the company. The transaction involved the purchase of 3,04,15,621 equity shares for an aggregate consideration of ₹183.22 crore. Following the acquisition, GMR Airports’ total shareholding in DDFS has risen to 66.93%, strengthening its control over the duty-free retail business at Indira Gandhi International Airport, New Delhi. DDFS, incorporated in 2009, is engaged in the development, operation, and management of duty-free retail operations at Delhi Airport. The company has demonstrated strong revenue growth, reporting revenue from operations of ₹2,177.32 crore in FY25, compared with ₹1,940.98 crore in FY24 and ₹1,541.83 crore in FY23. GMR Airports stated that the acquisition aligns with its strategy to expand duty-free and non-aeronautical businesses, both in India and overseas. As the newly appointed concessionaire for the Delhi Duty Free business, the company believes higher ownership in DDFS is in its long-term strategic interest. The transaction was classified as a related party transaction and was executed on an arm’s length basis with due approvals from relevant authorities. The company also clarified that no governmental or regulatory approvals were required for the acquisition. Disclaimer: This article is based on company disclosures to stock exchanges. Forward-looking statements are subject to risks and uncertainties.