Adani Plans Airport Unit IPO By 2027
Adani Airports operates eight Indian airports and will be opening a new terminal on the outskirts of Mumbai in a few months time.
Billionaire Gautam Adani’s group is gearing up to list its airports unit by 2027, as part of an ambitious growth plan that entails investing $100 billion across businesses over the next few years.
Adani Airport Holdings Ltd., India’s largest private-sector airport operator, will likely be spun off and listed by March 2027, according to Adani Group executives who spoke on the condition of anonymity as the details aren’t public. Currently owned by the flagship Adani Enterprises Ltd., the firm operates eight Indian airports and will be opening a new terminal on the outskirts of Mumbai in a few months time.
An Adani Group representative did not respond to an email seeking comments.
The accelerated investment and listing plans point to how the group led by Asia’s second-richest person is back to fundraising and rapid growth mode.
Metals Unit IPO
The Adani Group plans to borrow $30 billion from domestic and international markets to bankroll its massive investment plan, the executives said.
Internal accruals will finance the rest with about $50 billion likely from the group’s listed companies, they added. Newer assets, including airports, roads, and renewable energy projects, should bring in another $20 billion by 2030 by when the metals business will likely be listed as well, the executives said.
Adani Group, with interests stretching from ports to green energy and cement to media, is also back to luring overseas investors.
It raised about $750 million for an acquisition in April, with BlackRock Inc. subscribing to about a third of the bond issue. In May, its ports unit raised $150 million from DBS Group Holdings Ltd. in a bilateral loan. Adani Airports this month secured $750 million via external commercial borrowings from international banks.
