AAHL will acquire 74% stake in April Moon Retail Pvt Ltd for ₹7.40 lakh, Adani Enterprises said in a regulatory filing on Monday.
Adani Airport Holdings Limited (AAHL) will acquire majority stake in April Moon Retail Private Limited (AMRPL) to form a strategic partnership to operate duty free outlets at AirPorts.
Adani Airport Holdings Limited, a wholly owned subsidiary of Adani Enterprises, has signed a share membership agreement with AMRPL and its existing shareholders namely Arjun Ahuja, Karan Ahuja, Alia Ahuja and Kabir Ahuja.
AAHL will acquire 74% stake in the enterprise for ₹7.40 lakh, Adani Enterprises said in a regulatory filing on Monday.
The share purchase agreement is for “strategic partnership objective to operate duty free outlets in airports”.
According to the filing, the strategic partnership, operating fee payment outlets in airports and subscription of shares by AAHL, constitutes 74 per cent of the equity share capital of AMRPL on fulfillment of certain terms and conditions.
“On completion of the subscription, AAHL will subscribe to 74,000 equity shares of face value of ₹10, which is 74% of the share capital of AMRPL on a fully diluted basis for a total investment of ₹7.40 lakh.”
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