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GMR Airports Ltd. (GAL) has strengthened its presence in India’s travel retail space by acquiring an additional 49.90 percent equity interest in Delhi Duty Free Services Private Ltd. (DDFS). The stake was acquired from Delhi International Airport Ltd. (DIAL) for a total consideration of about ₹183 crore.
As a result of the transaction, GMR Airports’ overall holding in DDFS has increased to 66.93 percent, consolidating its control over the duty-free operator at India’s busiest airport.
The acquisition comes when GAL, operating under the GMR AERO brand, is repositioning itself from a pure airport infrastructure company to a consumer-focused aviation services platform. The company was recently awarded the concession for the Delhi duty-free business and assumed operational control at Indira Gandhi International Airport on July 28, 2025.
