Bidvest Services finds buyer for its 13.5 per cent stake in Mumbai airport

According to reports, Mauritius-based Bidvest Services, one of the shareholders in Mumbai International Airport Limited, has found a buyer for its 13.5 per cent equity stake in the airport. At present, Bidvest’s shareholdings are being offered at a value of Rs 12.48 billion (Rs 77 per share). In this regard, a notice to exercise right of first refusal has been issued to other shareholders. The offer to exercise refusal is valid for 30 days starting January 26, 2019, after which Bidvest will be free to sell its stake to others. If this materialises, the valuation of Bidvest’s stake is likely to affect the GVK Group’s plan to raise money as the latter had expected a 50 per cent higher valuation of shares.