Adani Group takes control of the Mumbai Airport

Adani Group Mumbai airport

Last Updated: Dec 12, 2022 - 03:52 pm 59.7k Views
Listen icon

The big dispute over the GVK stake in Mumbai International Airport Limited (MIAL) is finally over with control of MIAL likely to fall entirely in the hands of Adani Group. Adani Group had already acquired 23.5% stake in MIAL from two South African investors who had been looking for an exit route. The bone of contention was the 50.5% stake in MIAL owned by GVK group, which was unwilling to hand over control of MIAL to the Adani Group. However, with mounting debt burden and lender pressure, GVK group finally relented.

MIAL is stuck with an overall debt burden of Rs.8,000 crore and with the GVK group stretched financially, they were in no position to address the debt. It was this debt burden which Adani has agreed to take over and in lieu of that the GVK group will transfer their shareholdings to Adani group. With a combined 74% in MIAL, the Adani Group will get total control over the Mumbai Airport. Gautam Adani topped up the acquisition with a promise to revitalize the entire airport ecosystem and create thousands of jobs. 

Interestingly, this deal comes just a month ahead of Adani group’s plans to commence work on the Navi Mumbai International Airport. The new airport is expected to be commissioned in 2024. The Adani Group already controls 6 airports in their portfolio. With the addition of MIAL to its airports portfolio, the Adani group virtually controls 25% of all passenger footfalls in India as well as 33% of India’s air cargo movement. This move will effectively bring down the curtains on the involvement of GVK group in the airports business.

How do you rate this blog?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest Blogs
Weekly Outlook on Copper - 01 December 2023

Copper prices saw a modest 0.33% gain, reaching 722 on Thursday, as worries about a slowdown in Chinese manufacturing loomed large. The November's NBS Manufacturing PMI slipped to 49.4, the second consecutive monthly decline, heightened concerns, emphasizing the need for additional government support to fortify China's economic growth. The NBS Non-Manufacturing PMI at 50.2, reflecting the 11th month of service sector expansion, hinted at a softer pace.

Swing Trading Stocks: Week of 04 December 2023

Swing Trading Stocks for the Week

Weekly Market Outlook for 04 December to 08 December

Our markets started the truncated week on a positive note and it rallied higher throughout the week. The first day of the December month infact witnessed a new record as the Nifty surpassed its previous high and ended in uncharted territory above 20250 with weekly gains of almost two and a half percent.