Skip to main content

Featured Post

How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...
Post a Comment

Mumbai Airport now owned by Adani Group, now holding 74% stake

Mumbai Airport now owned by Adani Group, now holding 74% stake

 


The Adani Group will acquire GVK Group's stake in Mumbai Airport. The group, led by billionaire industrialist Gautam Adani said on Monday that its total stake in Mumbai airport would increase to 74 per cent after the acquisition. With this, the group will become the country's largest private airport operator. Information sent to the stock markets stated that Adani Airport Holdings Ltd., the principal holding company of Adani Group. (AAHL) Mumbai International Airport Ltd. (MIAL) GVK Airport Developers Ltd. (ADL) has tied up for the acquisition of debt.

 

This loan will be converted into equity. This will give the Adani Group a 50.5 per cent stake in the GVK Group in Mumbai International Airport. In addition, the Adani Group will also acquire 23.5 per cent stake of Airports Company of South Africa (ACSA) and Bidvest, a minority shareholder in MIAL. The Adani Group said it would also take steps to acquire the 23.5 per cent stake in ACSA and Bidvest at Mumbai International Airport. For this, it has got the approval of Competition Commission of India (CCI).

 

Both companies have not disclosed the financial side of the deal. The Adani Group said that it would invest in Mumbai International Airport, as well as help, manage the finances for Navi Mumbai International Airport so that it could start construction. Mumbai International Airport has a 74 per cent stake in the airport. GVK Reddy, founder and chairman of GVK said, "The aviation sector has been severely affected by the COVID-19 epidemic." This region has gone back many years by this epidemic. The financial condition of Mumbai International Airport has also been affected by this.

 

Due to financial constraints, GVK Group has now agreed to sell its stake to Adani Group. It has an agreement to buy the GVK group stake in Mumbai airport and gain control. After the ports, the Adani Group is now betting heavily on the airport sector. It has been empowered to operate six non-metropolitan airports at Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore. Now the group is going to acquire the rights to operate the second busiest airport in the country.

 

ACSA holds a 10 per cent stake in Mayel. The remaining 26 per cent is owned by the Airports Authority of India (AAI). In October last year, burdened by debt, GVK Group raised its 79 per cent stake in GVK Airport Holdings to Abu Dhabi Investment Authority (ADIA) and Canada's Public Sector Pension (PSP) Investments and the Public Sector National Investment and Infrastructure Fund (NIIF) 7,614 crore for sale. The amount was to be used by the GVK group to repay its holding companies. GVK said that it has informed ADIA, NIIF and PSP that the documents related to the deal are cancelled. It is no longer effective and implementable.


Labels:

Comments

Post a Comment

Popular posts from this blog

Know All About Sovereign Gold Bond Scheme (SGB)

    The first time Sovereign Gold Bond Scheme was first introduced by the Government of India in the Union Budget of 2015-16. It was introduced by the Government of India to reduce the demand for the physical gold form and a part of this physical gold is bought every year in the form of gold bands for the purpose of invest in SGB.   Latest on Sovereign Gold Bond Scheme    A tenth tranche of the buy SGB Series – The Sovereign Gold Bond Scheme 2021-22 - Series X in which the Reserve Bank of India (RBI) sell gold bonds linked to the market price of gold on behalf of the government made available for investment will be open for buy SGB for the period from February 28th to March 4th.   What is Sovereign Gold Bond?   The Sovereign Gold Bond is an initiative taken by the Government of India to reduce the demand for physical gold as per the Reserve Bank of India as the increasing import of gold is affecting the growth and investment of India. Large quantities ...
Post a Comment
Read more

Know that senior citizens get many special concessions in income tax

  People above 60 years of age, i.e., senior citizens, not only get the benefit of income tax exemption but also receive special relief from income tax on investments and returns. Elderly citizens do not have to pay any income tax on income up to Rs 3 lakh.   Exemption in tax limit under 80C limit: The tax exemption limit for old citizens in a financial year is Rs 3 lakh, while a common man gets tax exemption only up to Rs 2.5 lakh. For very senior citizens who are above 80 years of age, it is Rs 5 lakh. That is, if the annual income of a senior citizen is up to Rs 3 lakh and TDS has not been deducted, then he need not file an income tax return. Similarly, very senior citizens need not file income tax returns if they do not have an annual income up to Rs 5 lakh.   If the age is more than 75 years then no return is required: Those above 75 years of age are not required to file tax returns. There is no any need to file ITR for people above 75 years of age who are ...
Post a Comment
Read more

SEBI introduces a new category of funds flexi-cap in mutual funds

  Securities and Exchange Board of India (SEBI) has introduced a new fund category, Flexi-cap, in mutual funds. According to the circular, mutual funds in this category need to invest at least 65 per cent of the portfolio in equities. However, there is no restriction in terms of allocation to market capitalization range and they can dynamically shift across large-cap, mid-cap and small-cap. So, effectively, the new category of the fund in a mutual fund is how SEBI used to define the multi-cap category until it changed the category's mandate.   On September 11, 2020, SEBI issued a circular informing about the change in the mandate of the multi-cap fund's category. According to the new guidelines of SEBI, multi-cap funds need to allocate 25 per cent of the portfolio to each-large-cap, mid-cap and small-cap stocks, increasing the minimum equity allocation to 75 per cent. AMC has been given time until January 2021 to make the required changes in the portfolios of their multi-c...
Post a Comment
Read more