NEW DELHI: The GVK group said it has raised more than Rs 7,600 crore from investors and the proceeds will be used to reduce debt and acquire a 23.5% stake in Mumbai International Airport (MIAL). This should halt the Adani Group’s bid to acquire a stake in the company that operates Mumbai airport.
“GVK Power & Infrastructure’s subsidiaries, GVK Airport Developers (GVKADL) and GVK Airport Holdings (GVKAHL) have entered into definitive agreements with subsidiaries of the Abu Dhabi Investment Authority (ADIA), Public Sector Pension Investment Board (PSP Investments) supported by its global airports platform, AviAlliance, and with National Investment & Infrastructure Fund (NIIF),” said a release from the company. They “will make an aggregate investment of Rs 7,614 crore, into GVKAHL”.
