GMR Airports Infrastructure Ltd receives LOA from DIAL for Duty-Free Outlets

GMR Airports Infrastructure Limited ("GIL" or "Company"), received a Letter of Award (LOA) from Delhi International Airport Limited (DIAL), intimating that the Company has emerged as the Selected Bidder to develop, operate, manage and maintain the Duty-Free Outlets at the IGI Airport, New Delhi (Delhi Duty Free Concession). Subsequent to the issuance of the LOA, the Company has entered into a License Agreement today, i.e., August 21, 2024 towards the said Delhi Duty Free Concession, to take up the operations from July 28, 2025 onwards.

It may be noted that GMR Airports Limited (since merged into the Company) had participated in the bidding process and submitted its bid for the RFP issued by DIAL for the grant of License for a long-term period to design, develop, finance , set up, operate, manage and maintain the Duty Free Outlet(s) at IGI Airport, New Delhi in April 2024.

Shares of GMR Airports Infrastructure Limited was last trading in BSE at Rs. 95.00 as compared to the previous close of Rs. 94.80. The total number of shares traded during the day was 492059 in over 2606 trades.

The stock hit an intraday high of Rs. 96.85 and intraday low of 94.80. The net turnover during the day was Rs. 47069813.00.

Source : Equity Bulls

Keywords

GMRAirportsInfrastructure INE776C01039 AirportServices LOA DIAL DelhiDutyFreeConcession