Adani Airport to acquire majority stake in duty free shops operator Flemingo

Adani Airport Holdings Limited (AAHL), the flagship holding company of Adani Group for its airports business and a wholly-owned subsidiary of Adani Enterprises Ltd, has signed Share Subscription Agreement with Flemingo Travel Retail Pvt Ltd and Mumbai Travel Retail Private Limited (MTRPL) for strategic partnership to operate duty free outlets in airports and seaports. On completion of the transaction, AAHL will subscribe to 28,49,000 equity shares of face value of INR 10 each constituting 74% of Share Capital of MTRPL on fully diluted basis for INR 2.85 crore.