India, Sept. 12 -- GMR Airports Ltd has announced the incorporation of a new special purpose vehicle (SPV), GMR Cargo and Logistics Limited, to execute the Cargo City Project at Indira Gandhi International Airport, New Delhi. The project was awarded to the company by Delhi International Airport Limited (DIAL).
Formed on September 11, 2025, the SPV is a wholly owned subsidiary of GMR Airports with an initial paid-up share capital of ?10 crore, divided into one crore equity shares of ?10 each. The new entity will also explore additional cargo and logistics opportunities beyond the Cargo City Project.
GMR Airports confirmed that the acquisition does not constitute a related-party transaction and that neither the company's promoters nor the p...