GVK group to increase its stake in MIAL from 50.5% to 74%

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

GVK Group is set to increase its stake in Mumbai International Airport Limited (MIAL). Recently GVK acquired 13.5% stake from South Africa-based Bidvest Services and will acquire 10% stake of ACSA Global.

GVK group is now buying 10 per cent of paid-up capital of ACSA Global, which includes a total 120 million shares at the rate of 77 Rs (US$ 1.11). MIAL is responsible for the operation, modernizing and upgrading of Chhatrapati Shivaji Maharaj International Airport in Mumbai. Located in the western state of Maharashtra, CSMIA is one of India’s busiest airports having recorded passenger traffic of 36.63 million in 2014-15, along with cargo traffic of 694,261 tonnes.

After the acquisition, GVK group will hold a majority of 74 % stake in MIAL and the remaining 26% stake is owned by AAI (Airport Authority of India).

Share this update