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Home»Business»Fairfax Weighing Bangalore Airport IPO at $3.7 Billion Value, Sources Say
Business

Fairfax Weighing Bangalore Airport IPO at $3.7 Billion Value, Sources Say

November 19, 2022No Comments2 Mins Read
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Bloomberg | | Posted by Yamini C S

Fairfax India Holdings Ltd. is contemplating an preliminary public providing for Bangalore Worldwide Airport Ltd. that would worth the asset at about 300 billion rupees ($3.7 billion), in keeping with folks accustomed to the matter.

The Indian arm of Canadian funding group Fairfax Monetary Holdings Ltd. is working with an adviser on the potential itemizing that would happen as quickly as subsequent 12 months, the folks mentioned. Fairfax India holds a majority stake within the proprietor of Kempegowda Worldwide Airport, Bengaluru, situated within the southern Indian metropolis also referred to as Bangalore.

READ | Warren Buffett, Masayoshi Son’s India IPO shares price $14 bn lockup interval ends this month

The Mumbai providing might increase between 30 billion rupees and 40 billion rupees, they mentioned, asking to not be recognized as the knowledge is non-public. The IPO might include about 75% main shares and the remainder in present shares, one of many folks mentioned.

Deliberations are ongoing, particulars of the itemizing might change and Fairfax might determine to not proceed with a share sale, the folks mentioned. A consultant for BIAL couldn’t instantly remark, whereas Fairfax didn’t instantly reply to calls and emails requesting remark.

READ | Infosys reviews 11% rise in Q2 revenue, units $1.13 billion share buyback: Report

Fairfax India owns a 54% curiosity in BIAL because it constructed up its shareholding after buying its preliminary stake in 2017. It counts Siemens Tasks Ventures and governments amongst its minority traders, its web site reveals.

Launched in 2008, BLR Airport has been visited by greater than 250 million passengers as of June this 12 months, in keeping with a latest press launch. The airport serves 61 home and 14 worldwide locations, the web site reveals.

–With help from P R Sanjai and Layan Odeh.

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