Adani Airport Holdings to acquire 74% stake in Mumbai Travel Retail

For purpose of operating duty free outlets in airports and seaports

Sep 23, 2021 12:09 IST capital market

Adani Enterprises announced that its subsidiary, Adani Airport Holdings has signed a share subscription agreement with Flemingo Travel Retail and Mumbai Travel Retail for purpose of strategic partnership to operate duty free outlets in airports and seaports.

On completion of the transaction, Adani Airport Holdings will subscribe to 28.49 lakh equity shares of face value of Rs 10 each constituting 74% of share capital of Mumbai Travel Retail on fully diluted basis for an aggregate investment of Rs 2.84 crore.

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