Bangalore Airport was established in 2008 and has been visited by more than 250 million passengers as of June this year
As per Bloomberg, the Indian arm of a Canadian investment company is planning an IPO (Initial Public Offering) for Bangalore International Airport Ltd (BIAL) estimated to be at USD 3.7 billion.
While the IPO discussions are underway, the specifics of the listing could alter, with Fairfax even deciding not to proceed with the share sale, said Bloomberg sources.
The Indian arm of Canadian investment group Fairfax Financial Holdings Ltd. is working with an adviser on the potential listing that could take place as soon as next year, people in the know said.
Fairfax India holds a majority stake in the owner of Kempegowda International Airport, Bengaluru, located in the southern Indian city also known as Bangalore.
Siemens Projects Ventures, with other private promoters in BIAL, owns a 20 per cent stake, and the remaining is held jointly by Karnataka State Industrial & Infrastructure Development Corporation Limited (13 per cent) and Airport Authority of India (13 per cent).
Bangalore Airport was launched in 2008 and has been visited by more than 250 million passengers as of June this year, according to a recent press release. As per the website, the airport serves 61 domestic and 14 international destinations.