GMR Airports, a subsidiary of GMR Infrastructure, has agreed to buy a 10 per cent stake in Delhi International Airport Pvt Ltd (DIAL) from Malaysia Airports (Mauritius) for $79 million (₹490 crore).
The company will acquire 24.5 crore shares of face value of ₹10 each.
DIAL is a special purpose vehicle formed to carry out development, operation and management of Indira Gandhi International Airport in Delhi.
According to a regulatory filing made with BSE on Wednesday, GMR Airports currently holds a 54 per cent stake in DIAL, which will now increase to 64 per cent.
The acquisition is subject to approval from the Airports Authority of India, the grantor of concession for Delhi Airport and completion of other customary conditions precedent.