February 7, 2021
1 min read

Adani buys 23.5% stake in Mumbai Airport

In a regulatory filing, Adani Enterprises said that AAHL has acquired 28.20 crore equity shares of MIAL. AAHL is also a wholly owned subsidiary of Adani Enterprises….reports Asian Lite News

Adani Group’s flagship holding company Adani Airport Holdings Ltd (AAHL) has acquired 23.5 per cent stake in the Mumbai International Airport Ltd (MIAL) from ACSA Global Ltd (ACSA) and Bid Services Division (Mauritius) Ltd (Bidvest) for Rs 1,685.25 crore.

In a regulatory filing, Adani Enterprises said that AAHL has acquired 28.20 crore equity shares of MIAL. AAHL is also a wholly owned subsidiary of Adani Enterprises.

“Adani Airport Holdings Ltd has acquired 23.5 per cent equity stake i.e. 28,20,00,000 equity shares of Rs 10 of Mumbai International Airport Ltd from ACSA Global Ltd and Bid Services Division (Mauritius) Ltd,” the filing said.

Incorporated on March 2, 2006, MIAL is engaged in the business of development, construction and operation of the Chhatrapati Shivaji Maharaj International Airport.

In August last year, the AAHL entered into an agreement to acquire the debt of GVK Airport Developers Ltd (GVKADL) which in turn would help the Adani Group acquire controlling interest in MIAL.

GVKADL is the holding company through which GVK Group holds 50.50 per cent equity stake in the Mumbai International Airport Ltd (MIAL), which in turn holds 74 per cent equity stake in the Navi Mumbai International Airport Ltd.

Also read:‘Business confidence improves in India’

Previous Story

‘Business confidence improves in India’

Next Story

Govt disinvestment policy not like selling family silver, says FM

Latest from -Top News

India Launches Relief Ops in Bhutan

The Royal Government of Bhutan has expressed sincere gratitude to the Indian Army…reports Asian Lite News Amid unprecedented floods caused by a low-pressure system over the Bay of Bengal, relentless rainfall has

Jaishankar Hints at Tariff Deal with US

Jaishankar explained that the ongoing trade tensions largely stem from the inability of both sides to reach a common ground on several issues….reports Asian Lite News External Affairs Minister S. Jaishankar on

Rajnath Singh Heads to Australia for Key Defence Talks

The visit comes at a historic moment when India and Australia commemorate five years of establishment of India-Australia Comprehensive Strategic Partnership…reports Asian Lite News Defence Minister Rajnath Singh will visit Australia from

Multi-alignment, upgraded

With US ties strained and China tense, New Delhi taps Europe’s harder edge for co-development, clean tech and strategic autonomy, writes Manoj Menon India is recalibrating its great-power hedging as frictions with

Reeves urged to break manifesto pledges

Chancellor under pressure as £40bn fiscal gap looms, with critics warning against a “pasty tax” budget of piecemeal revenue raisers…reports Asian Lite News Rachel Reeves is facing growing unease inside Labour’s ranks
Go toTop