The government is working actively to sell its stake in the airports of Delhi, Mumbai, Hyderabad and Bengaluru, Union Aviation Minister Hardeep Singh Puri told CNBC-TV18 today.
"Offloading of government shareholding in DIAL, MIAL and Bengaluru, Hyderabad will be taken up by the government soon. Presently, the proposal on Bengaluru is at an advanced stage," Puri said.
"Preparations for DIAL, MIAL and Hyderabad us also being considered. The proposal is at an active stage of consideration," Puri added.
Currently, the government body Airports Authority of India has 26 percent share of Equity capital in Delhi and Mumbai airport.
The GMR-led Consortium signed the Operations, Management and Development Agreement (OMDA) for Delhi airport on April 4, 2006 with the AAI. The initial term of the concession period is 30 years extendable by another 30 years.
As of February 2021, the Adani Group owns 74 percent stake in Mumbai airport with 26 percent under AAI.
Rajiv Gandhi International airport of Hyderabad is owned and operated by GMR Hyderabad International Airport Ltd (GHIAL), a public–private venture. Its stakeholders include the Airports Authority of India (13%) and the Government of Telangana (13%), as well as a private consortium between GMR Group (63%) and Malaysia Airports Holdings Berhad (11%).
Bengaluru airport currently is a public-private venture with stakeholders including Karnataka State Industrial Investment and Development Corporation (13%), Airports Authority of India (13%), and 74% is held by private companies Fairfax Financial (54%) and Siemens Project Ventures (20%).
The plan to sell the government's stake in private-public partnership airports is part of the government's asset monetisation programme.
The majority of stakeholders of these four airports are expected to receive an opportunity to exercise the right of first refusal and buy out AAI's stake. In case this right is not exercised within a stipulated time period, then AAI is likely to invite bids for its stake.
Currently, the government is getting ready to prepare a draft Cabinet note, senior officials said.