GMR AIRPORTS LIMITED — Others, 23-06-2025: Shareholders meeting

GMR Airports Limited has announced a board meeting to seek shareholder approval via postal ballot for the proposed sale of assets by its material subsidiary, Delhi Duty Free Services Private Limited (DDFS). DDFS’s duty-free license at IGI Airport is expiring, and the new duty-free contract has been awarded to the parent company. To ensure a smooth transition, DDFS intends to sell assets including fixed assets, inventory valued around Rs. 315 Cr, and passenger advances of Rs. 7 Cr to GMR Airports. The total transaction value is about Rs. 350 Cr (+/- 10%) plus applicable taxes, exceeding 20% of DDFS’s asset base, requiring shareholders’ consent. This sale aligns with the cessation of DDFS’s current operations and supports operational continuity.