Bangalore Airport: Fairfax India Holdings Ltd. is exploring an initial public offering for Bangalore International Airport Ltd., which could value the asset at around 300 billion rupees ($3.7 billion), according to persons familiar with the matter.
According to the sources, Fairfax Financial Holdings Ltd.’s Indian subsidiary is collaborating with an advisor on a potential IPO that might happen as early as next year. The owner of Kempegowda International Airport, Bengaluru, which is situated in the southern Indian metropolis popularly known as Bangalore, is majority-owned by Fairfax India.
They estimated that the Mumbai sale may bring in between 30 and 40 billion rupees but asked to remain anonymous because the information is secret. According to one of the people, the IPO might include approximately 75% primary shares and the remaining 20% existing shares.
The people said that because discussions are still ongoing, the listing’s specifics might change and Fairfax might decide against moving forward with a share sale. BIAL’s representative was unable to comment right away, and calls and emails to Fairfax seeking comment were not immediately returned.
After purchasing its initial stake in BIAL in 2017, Fairfax India increased its shareholding to reach a current 54% stake. According to its website, it has governments and Siemens Projects Ventures as minority investors.
According to a recent press release, BLR Airport, which opened in 2008, has welcomed more than 250 million people as of June this year. According to the website, the airport has 61 domestic and 14 foreign destinations.
BLR Airport, which opened in 2008, has welcomed more than 250 million people as of June this year. According to the website, the airport has 61 domestic and 14 foreign destinations, as per a press note.