GMR Airports to buy stake in Bird Delhi General Aviation Services

GMR Airports will acquire a 50 per cent stake in Bird Delhi General Aviation Services for Rs 15.02 crore to bolster its presence in the airport-related businesses. In a regulatory filing on Wednesday, the company said it has entered into a share purchase agreement to acquire up to 5 lakh equity shares and 1.90 crore non-cumulative compulsorily convertible preference shares of Bird Delhi General Aviation Services Pvt Ltd (BDGASPL), constituting up to 50 per cent of its paid-up share capital.

The securities will be acquired for around Rs 15.02 crore.

"The said transaction will be in furtherance of the existing business of airport adjacencies/airport-related businesses etc, and would strengthen its presence in the airport and airport-related businesses," the filing said.

Set up in August 2005, BDGASPL is into the development and operation of the general aviation terminal, maintenance centre, and associated facilities at the Delhi airport.

BDGASPL, earlier known as Bird Execujet Airport Services Pvt Ltd, raked in revenues of Rs 64.51 crore in the 2023-24 fiscal.