Mumbai International Airport Ltd (MIAL) Wednesday said that it has raised $750 million of debt in a private placement from US-based private asset manager, Apollo Global.
MIAL is managed by Adani Airport Holdings Limited (AAHL), a 100% subsidiary of Adani Enterprises Ltd, the flagship company of the billionaire Gautam Adani-led Group. MIAL is a public-private partnership (PPP) venture between AAHL, holding a majority stake of 74%, and the Airports Authority of India (AAI), holding the remaining 26%.
MIAL also owns 74% stake in the Navi Mumbai International Airport Limited, the greenfield airport being developed in suburban Mumbai, which when operational will be the “twin airport” servicing passengers in the Mumbai Metropolitan Region. Recently, the Navi Mumbai Airport announced financial closure of the entire debt requirement of Rs 12,770 crore with State Bank of India.
Read more: VCCircle
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