India’s Bangalore Airport appears to be headed for another significant stride a week after the opening of its stunning Terminal 2.
Bangalore International Airport’s initial public offering (IPO) is something Fairfax India Holdings Ltd. is thinking of doing. According to persons familiar with the situation, the airport may be valued at around Rs 300 billion ($3.7 billion) in the IPO, according to a Bloomberg article.
Details on Bangalore Airport in India is likely to list through an IPO the following year with a valuation of $300 billion
Working with a consultant, the Indian division of Canadian investment firm Fairfax Financial Holdings Ltd. is preparing for a prospective IPO listing that may happen as soon as next year, or in 2023.
For those who don’t know, Bengaluru’s Kempegowda International Airport is owned by a company that is mainly owned by Fairfax India.
Between Rs 30 and Rs 40 billion could be raised in the IPO offering. The primary shares may make up roughly 75% of the IPO, with the remaining shares being existing shares.
According to those with knowledge of the situation, discussions are ongoing, the listing’s specifics may alter, and Fairfax may decide not to proceed with a share sale.
After purchasing its initial stake in BIAL (Bangalore International Airport Limited) in 2017, Fairfax India increased their shareholding to reach a current 54% stake. According to its website, it has governments as well as Siemens Project Ventures among its minority investors.
According to a recent press release, Bangalore Airport, which opened in 2008, welcomed more than 250 million passengers as of June this year. 14 foreign and 61 domestic destinations are served by the airport.
The Bangalore Airport’s new T2 terminal was opened in 2022 by Indian Prime Minister Narendra Modi.
The terminal would reportedly include 22 contact gates and nine customs hand luggage checks, covering a total size of 2,55,645 square meters. There will be 5,953 seats in the gate lounge.
It is regarded as an architectural marvel and is said to have cost Rs 5,000 crore to build. It will be covered in lush vegetation both inside and out, and passengers will feel as though they are taking “a walk in the garden.”
