Adani Group Completes Acquisition Of 23 5 Per Cent Stake In Mumbai International Airport swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
Adani Airport Holdings , a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 percent stake in Mumbai International Airport from ACSA Global and Bid Services Division (Mauritius), or Bidvest, for Rs1,685.25 crore, the company said in a regulatory filing.
In a regulatory filing, Adani Enterprises said that Adani Airport Holdings (AAHL)has acquired 28.20 crore equity shares of Mumbai International Airport Ltd. AAHL is also a wholly owned subsidiary of Adani Enterprises. Adani Airport Holdings Ltd has acquired 23.5 percent 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.
Shares of Adani Enterprises hit a fresh 52-week high of Rs 683, up 7 per cent on the BSE, in the intra-day trade on Monday after Adani Airports completed acquisition of 23.5 per cent stake in Mumbai Airport. Adani Airport Holdings (AAHL), the flagship holding company of Adani Group for its airports business and a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 per cent equity stake, i.e. 282 million equity shares of Rs 10 of Mumbai International Airport, from ACSA Global and Bid Services Division (Mauritius) for Rs 1,685.25 crore, Adani Enterprises said in a regulatory filing. MIAL is engaged in the business of development, construction and operation of Chhatrapati Shivaji Maharaj International Airport. This acquisition forms part of the transaction pursuant to which AAHL proposes to acquire controlling interest in MIAL, it added.
Adani Group Acquires 23.5 Percent Stake in Mumbai International Airport, Aims 74 Percent Stake
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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.
Shares of Adani Enterprises moved up by over 5 per cent on Monday afternoon to hit a 52-week high after its subsidiary Adani Airports completed the acquisition of 23.5 per cent stake in Mumbai Airport.
At 1 pm, the company s stock was trading 5.36 per cent higher on BSE Ltd at Rs 627.50 per unit.
The Gautam Adani-led conglomerate completed the acquisition of 23.5 per cent equity stake in Mumbai International Airport Ltd (MIAL) from Airports Company South Africa (ACSA) and Bid Services Division (Mauritius) Ltd for Rs 1,685.2 crore.
The Indian multinational is set to extend shareholding to 74 per cent in MIAL, a joint venture between the Airports Authority of India and GVK Industries, which will provide the group ownership of the upcoming Navi Mumbai airport in which MIAL holds majority stake.