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Shares of airport and airport services provider GMR Airports climbed 2.79 per cent to hit an intraday high of ₹83 apiece on the NSE, in an otherwise weak market on Monday, April 7, 2025. The uptick in the company's share price came following the news that its step-down subsidiary, GMR Airport Developers, had acquired GADL LLC.
"GMR Airport Developers Limited (‘GADL’) (a step-down subsidiary of the company) has incorporated and acquired, by way of subscription to the Memorandum of Association of GADL LLC, a single-shareholder Limited Liability Company, incorporated in Riyadh, Saudi Arabia (wholly owned subsidiary of GADL), with a capital of 5,00,000 Saudi riyals (₹1.14 crore)," GMR Airports said in an exchange filing on the NSE.
GADL LLC will be engaged in providing business and management consultancy services to prospective clients in the Saudi Arabia region. GADL LLC is yet to commence its business operations.
"The said transaction will further the existing business of GADL with regard to airport adjacencies/airport-related businesses, etc., and would strengthen its presence in the airport-related businesses."
Formerly known as GMR Airports Infrastructure, GMR Airports Limited (GAL) is a global airport platform. GAL operates in multiple locations such as Delhi, Hyderabad, Goa, and Medan, serving over 120 million passengers in FY 2024. The company also has international operations in the Philippines and Indonesia, managing Mactan Cebu International Airport and Kualanamu International Airport. The company has a market capitalisation of ₹85,094.79 crore on the NSE.
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Shares of GMR Airports have posted a gain of nearly 4 per cent, year-till-date.
The company's shares reached their 52-week high of ₹103.75 per share on the NSE on July 31, 2024, and fell to their 52-week low of ₹67.75 per share on February 28, 2024.
At around 12:25 PM on Monday, GMR Airports shares were quoted at ₹81.21, up marginally by 0.59 per cent from its previous close of ₹80.74 per share on the NSE. In comparison, the NSE Nifty50 was quoted at 21,842.15, down 1,060.75 points or 4.62 per cent.
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