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Fairfax Weighing Bangalore Airport IPO at $3.7 Billion Value, Sources Say

  • Majority owner may seek up to 40 billion rupees in share sale
  • Canada’s Fairfax bought its initial airport stake in 2017
Baggage check-in counters at the newly inaugurated Terminal 2 at the Kempegowda International Airport in Bengaluru on Nov .12. 
Baggage check-in counters at the newly inaugurated Terminal 2 at the Kempegowda International Airport in Bengaluru on Nov .12. Photographer: Manjunath Kiran/AFP/Getty Images

Fairfax India Holdings Ltd. is considering an initial public offering for Bangalore International Airport Ltd. that could value the asset at about 300 billion rupees ($3.7 billion), according to people familiar with the matter.

The Indian arm of Canadian investment group Fairfax Financial Holdings Ltd. is working with an adviser on the potential listing that could take place as soon as next year, the people said. Fairfax India holds a majority stake in the owner of Kempegowda International Airport, Bengaluru, located in the southern Indian city also known as Bangalore.