The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
The Delhi-Dausa-Lalsot stretch is set to reduce the travel time between the national capital and Jaipur considerably.
'Uddhavji will face the no confidence motion on the floor of the House whenever it happens.'
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, expressways power generation & distribution, among others. In ports and airports, the group is the largest player in the private sector. Addressing media from Milan, group chief financial officer Jugeshinder Singh said the company has fixed the price band for the Rs 20,000-crore issue in the range of Rs 3,112-3,276 per share.
'The urge to name the upcoming Navi Mumbai airport after well-known personalities and the equally strong urge to rally in large numbers supporting this name and that; all of this amidst COVID-19, felt deplorable,' asserts Shyam G Menon.
A series of mega projects that have faced bottlenecks and which the Cabinet Committee on Investments has to clear.
The cabinet committee on infrastructure's clearance to big-ticket aviation projects, including the New Navi Mumbai airport, and plans to develop India as a civil aviation hub will help expedite the implementation of such projects, which are now caught up in challenges such as local opposition and land acquisition problems, say officials and experts.
The Bill will be tabled in the winter session of Parliament later this year.
While the Navi Mumbai airport project has been cleared for take off, two other big-ticket projects in Maharashtra - a cargo hub in Nagpur and an international airport at Rajgurunagar near Pune - are grounded because of delays in land acquisition.
The understanding was reached on Monday.
The year 2010 was a loud year when high profile projects hit the headlines for non-compliance with environmental regulations.
With the environment ministry nod to Navi Mumbai airport, money is flying into projects in its precincts.
"We have given permission only for Terms of References under which an environment impact assessment study has to be carried out," Minister of State for Environment and Forests, Jairam Ramesh told reporters in Mumbai on Wednesday. "We have not given clearance for the airport," he stressed.
The environment ministry has objected to the fact that around 115 hectares (or 7.3 per cent) of total land for the project is mangrove forest. It recently conveyed this to both Cidco and the civil aviation ministry. The matter is now with the prime minister's office. Cidco Vice-Chairman and Managing Director GS Gill said the corporation had sought an appointment with the environment ministry officials to make another presentation on the project in the next 10 days.
The Rs 4,675-crore Navi Mumbai airport project, which is being developed by CIDCO, may be delayed by a few months in the wake of serious objections being raised by the environment ministry. The project that has Cabinet clearance and approval from the International Civil Aviation Organisation will now be taken to Prime Minister Manmohan Singh for final clearance since the environment ministry has raised issues relating to the site.
The Tatas are rather overwhelmed with some facets of the airline they have discovered, but even more unnerved by what they may not have yet uncovered, reveals Anjuli Bhargava.
According to officials, at last count at least six large groups or consortiums are vying for this project, which is expected to change the way Mumbai is viewed some years down the line.
Sources close to the development said the group will shortly take a decision on the business, which has seen interest from large houses like the Tatas and the Ambanis.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
What made the tide turn in favour of the Adani group was the Covid-19 pandemic, which shut down airports the world over, including Mumbai. There was no cash flow and the firm started defaulting on salaries July onwards.
Charters, Udan flights choking Mumbai airport; MIAL may shift general aviation to Navi Mumbai once the airport is ready
The deal will give India's largest conglomerate indirect stakes in seven airports in India and abroad.
In 2012, Knight Frank estimated that prices in Ulwe grow by 50% in three years.
Modi said he was shocked that such voices are being raised for political gains in the land of Shivaji Maharaj.
State's move is seen as a pilot for a national rollout of online land title records. Maharashtra plans to start the system in Mumbai.
'Industry observers are certain the next attempt will succeed even if they have to browbeat someone into buying as the government has put its might behind it,' predicts Anjuli Bhargava.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Hyderabad-based diversified infra group GVK is likely to finalise stake dilution in its airport business over the next couple of months and the proceeds will be used to clear Rs 2,500-crore (Rs 25 billion) non-operational debt.
The government and MMRDA are keen to develop the 22-km link, which will connect Sewri on the island city to Nhava Seva in Navi Mumbai, on an engineering, procurement and construction basis and not on the build-operate transfer model, considering past experience.
From banking reform to financial reconstruction, the bullet train, Navi Mumbai airport, choosing a new medium fighter aircraft to be made in India... time is running out for Modi. How could a leader as energetic and astute as Modi have left it for so late, asks Shekhar Gupta.
And learn what not to do from the so far jinxed Navi Mumbai International Airport.
Bandra-Worli sea link has still not been able to make money for MMRDA in spite of steep toll for car owners.
The biggest let down for India's aviation sector has been the failure of the government to privatise Air India, says Anjuli Bhargava.
L&T had also sought shareholders' approval to raise $600 million through a qualified institutional placement.
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
Domestic airports across the country are bursting at the seams. And new ones are stuck.
Here's what's buzzing in Mumbai if you are looking out for real estate appreciation...
Prime Minister Narendra Modi sought a decisive mandate for BJP in the Maharashtra Assembly polls, saying the 15-year-rule of Congress and NCP have "destroyed" the state.
An execution paralysis has gripped the city.
Experts are divides on whether a new international airport should be developed at Greater Noida.
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