Latest news with #AdaniEnterprisesLtd.
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Business Standard
2 days ago
- Business
- Business Standard
Adani group plans Airport unit IPO by 2027, hastens $100 billion capex
By P R Sanjai and Saikat Das 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. The ports-to-power conglomerate has also doubled the pace of its capital spending plan and now intends to plow $100 billion in five to six years instead of spreading it out over a decade as announced before, the executives said. The investments will be used to scale up energy, logistics and infrastructure businesses, they added. 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. It was pummeled by short seller Hindenburg Research's corporate fraud allegations in 2023 and then rattled by the US Department of Justice's bribery probe against its founder in November that also derailed some of Adani's overseas projects. Adani Group has denied allegations made in both the cases. In mounting evidence that it's business-as-usual at the Adani Group after the spate of recent setbacks, Gautam Adani traveled to China last week to meet industrial equipment manufacturers in what appears to be his first significant overseas trip since the DOJ indictment. There's no clarity on the agenda for the China trip. 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, even as it navigates DoJ's ongoing investigation into its founder. 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.
Mint
2 days ago
- Business
- Mint
Adani plans airport unit IPO by 2027, Hastens $100 billion capex
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. The ports-to-power conglomerate has also doubled the pace of its capital spending plan and now intends to plow $100 billion in five to six years instead of spreading it out over a decade as announced before, the executives said. The investments will be used to scale up energy, logistics and infrastructure businesses, they added. 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. It was pummeled by short seller Hindenburg Research's corporate fraud allegations in 2023 and then rattled by the US Department of Justice's bribery probe against its founder in November that also derailed some of Adani's overseas projects. Adani Group has denied allegations made in both the cases. In mounting evidence that it's business-as-usual at the Adani Group after the spate of recent setbacks, Gautam Adani traveled to China last week to meet industrial equipment manufacturers in what appears to be his first significant overseas trip since the DOJ indictment. There's no clarity on the agenda for the China trip. 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, even as it navigates DoJ's ongoing investigation into its founder. 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. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Bloomberg
03-06-2025
- Business
- Bloomberg
Adani Mulls Entering Airport Ground Services After Celebi's Exit
Billionaire Gautam Adani's conglomerate is considering bidding for ground handling services at two airports, as it looks to diversify into a new line of business after India shut out Turkish operator Celebi Hava Servisi AS. Adani Airport Holdings Ltd. is 'evaluating' bids for the airports in Mumbai and Ahmedabad, Chief Executive Officer Arun Bansal said on the sidelines of an aviation industry event in New Delhi. A closely held unit of the flagship Adani Enterprises Ltd., it operates eight Indian airports including these two and an upcoming facility in Navi Mumbai.
Bloomberg
01-05-2025
- Business
- Bloomberg
Adani Flagship's Profit Increases 753% on One-Time Wilmar Gains
Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly. Adani Enterprises Ltd., led by billionaire Gautam Adani, reported a 753% rise in quarterly profit, boosted by a one-time gain related to a joint venture deal.
Bloomberg
05-02-2025
- Business
- Bloomberg
Adani, Tata Profit Misses Add to Alarm Over India Stocks Outlook
A deepening slowdown in corporate earnings is fueling fresh concern over India's $4.1 trillion stock market, and threatening to undermine Prime Minister Narendra Modi's latest efforts to revive growth. Citigroup Inc. and HSBC Holdings Plc are among banks that have cut profit forecasts as the latest earnings from some of India's top firms, including Adani Enterprises Ltd. and Tata Motors Ltd., trailed estimates. Local brokerage JM Financial Ltd. expects the benchmark NSE Nifty 50 Index's earnings to grow less than 5% this fiscal year, the slowest pace since the pandemic. Some strategists say even that forecast may be too optimistic.
