Adani Group to launch IPO of airport

Adani Group to launch IPO of airport

             

In 2019 Adani group entered the airport sector. Under Adani enterprise, Adani airports have been incubated. They can manage six airports through the airport’s Authority of India in the cities like Lucknow, Ahmedabad, Jaipur, Triruvanthapuram, Mangaluru, and Guwahati.

The company is trying to increase the non-aeronautical fee base. They also try to upgrade airports by providing the most secure and seamless airport to accommodate maximum people with first-class infrastructure, maximum satisfaction, and the best experience. Adani properties purchased the stake from the Bidvest for 1,235 crores. Out of the total debt of 10.231 crores of the company, it spends nearly Rs 4,197 crore for the airport segment, for its development, and to manage and operate every function smoothly.

Currently, there are six listed companies of Adani Group on the Indian Stock exchanges. There are also seven infrastructure companies and one of the consumer businesses with public shareholding listed by the Adani Group. To beat Mukesh Ambani the companies need two more added to the stock exchanges and can become the richest Indian.

Now as per the report the Adani enterprises is now planning and executing to list two more of its businesses on the Indian Stock exchanges.

In near future, the company is planning to go public for the food and airport businesses. The Adani Enterprises hold the airports business as Adani Airports on the other hand the Adani group and Singapore-based Wilmar International hold the Adani Wilmar jointly

The Gautam Adani through an IPO of a private placement of shares of Adani Airport Holdings was likely to raise $500 million. The initial discussion to separate their airport business from its holding firm has been started by the Adani group. They control  total of six regional along with Mumbai airport which facilitates and aiming at the total valuation of Rs 25,500 to 29,200 crore for its business.

Healthy discussions were held amongst top company officials and investment bankers. Recently many officers of global banks and domestic bankers also had a meeting with the top officials. Covid-19 pandemic had curtailed passenger traffic, so the group is waiting for the better air passenger and that’s the reason they are planning to be listed by the year ending.

By catering to at least 10 percent of the country’s air passenger traffic, the Adani Company has become India’s top airport platform.

Adani has separated many of its businesses like Adani total Gas, Adani Power, Adani power transmission, and raised equity.

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