Taking further the saga of privatising the government properties, the Modi-led central government is reportedly planning to sell its residual stake in already privatised Delhi, Mumbai, Bengaluru and Hyderabad airports.
Reports have it that the government has decided to sell the 13 per cent stake it holds in Kempegowda International Airport Bengaluru (Bangalore International Airport, or BIAL) and GMR Hyderabad International Airport (GHIAL) to raise funds.
According to the sources, the deal will be finalised after the next cabinet meeting. It was learnt that a transaction advisor will be appointed to conduct a valuation of AAI’s stake in the two airports in which Prem Watsa-owned Fairfax Group and Delhi-based GMR Infrastructure (GMR Infra) hold the largest stake.
It can be noted that in the first round of airports’ privatisation under the Narendra Modi government done last year, the Adani Group bagged contracts for six airports — Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.