GVK stake in Mumbai airport up to 74%

hares of the company on Friday ended with gains of almost three per cent at Rs 7.25 on the BSE. In January 2006, the GVK-led consortium, comprising Airports Company South Africa (ACSA) and Bidvest, won the bid to manage and operate GVK CSMIA. Mumbai International Airport Pvt Ltd (GVK CSMIA) was formed by the GVK-led consortium (74 per cent) and the Airports Authority of India (26 per cent). In February, GVK Airport Holdings, a subsidiary of GVK Power, had acquired the 13.5 per cent stake held by Bidvest through its Mauritius subsidiary. GVK Power had acquired over 16 crore shares at Rs 77 per share.During the third quarter ended December 31, 2018, the company had posted a net profit of Rs 16.15 crore compared with Rs 10.94 crore in the same period of the previous year.The total revenue of the diversified company came in at Rs 22.66 crore against Rs 21.34 crore in the year-ago period.The country's airport sector was in the news recently when Adani Enterprises emerged as the highest bidder for six airports that the government had put up for privatisation with aggressive bids."With India pegged to emerge as the third-largest aviation market in the world by 2025, the government is eyeing five times expansion in airport capacity. This renders us bullish on the sector," brokerage Edelweiss had said in a report. Dailyhunthttps://www.whatdotheyknow.com/user/raj_nadh_singh

https://www.scoop.it/u/raj-nadh-singh