Fairfax India boosts stake in BIAL, Bengaluru airport

27 Jun 2023 CW Team

The story states that Fairfax India Holdings Corporation has obtained an additional 3% stake in Bangalore International Airport (BIAL) from Siemens Project Ventures GmbH, a division of Siemens Financial Services. The acquisition was made for $75 million. With this transaction completed, Fairfax India's total ownership in BIAL has risen to 57%, consisting of a 13.4% stake held by its wholly-owned subsidiary and a 43.6% stake held by its indirect subsidiary, Anchorage Infrastructure Investments Holding.

Furthermore, Fairfax India, via its wholly-owned subsidiary, has entered into an agreement to purchase an extra 7% equity interest in BIAL from Siemens Financial Services for $175 million. The completion of this acquisition is subject to certain performance conditions being met by BIAL, along with other closing conditions, which are anticipated to be evaluated after October 31, 2023.

It should be noted that BIAL serves as the operator of Kempegowda International Airport, and it holds exclusive rights, as per an agreement with the government of India, to undertake the airport's development, design, financing, construction, commissioning, maintenance, operation, and management until 2068.

Also read:
Bagdogra Airport expansion set to begin soon
HP cabinet okays land acquisition for Gaggal airport

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..