Adani Group plans to tweak airport enterprise, launch IPO after hive off

Picture Supply : PTI (FILE)

Adani Group plans to tweak airport enterprise, launch IPO after hive off

The Adani Group is planning to hive off its airport enterprise from the holding firm Adani Enterprises. Based on media reviews, the plan is to listing the airport enterprise unit individually and lift USD 500 million by way of a personal placement of shares in Adani Airports Holdings earlier than launching a remaining IPO.

Ahmedabad headquartered Adani Group is led by billionaire Gautam Adani. It was based in 1988. The group’s various companies embody power, assets, logistics, agribusiness, actual property, monetary providers, defence and aerospace.

Adani Airports controls Mumbai airport and several other regional services as nicely. The corporate is aiming at a valuation of Rs 25,500-29,200 crore for the enterprise.

Adani Airports had entered the airport enterprise in 2019. It bagged the Airports Authority of India’s contract to function six airports in Lucknow, Ahmedabad, Thiruvananthapuram, Mangaluru, Jaipur and Guwahati.

Adani Group can also be the most important port developer and operator with ten ports. It co-owns Fortune Oil, the nation’s largest edible oil model, via a three way partnership with Wilmar Worldwide.

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