Adani Airports IPO: Gautam Adani-led parent firm likely to list airport biz by FY28, says report

Adani Airports IPO: Adani Enterprises is likely to list its airport business by fiscal 2027-28 (FY28) after an initial public offering (IPO), according to a report by CNBC-TV18. The Gautam Adani-led group also plans to raise between $2 billion to $3 billion via equities in the current fiscal (FY25), the report added.

Since the flagship company went public in 1994, the parent company of the ports-to-energy conglomerate has incubated and listed six other independent businesses, which have a combined market capitalisation of over $10 billion.

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Adani Enterprises owns eight airports in India, seven of which are operational, while the Navi Mumbai International Airport is likely to be completed by the end of the year. The Adani Group firm has recovered all losses registered from Hindenburg-led shock in January 2023. Shares of Adani Enterprises were last trading 0.80 per cent lower at ₹3.169 apiece on the BSE.

The Adani group plans to invest about ₹1.3 lakh crore across its portfolio companies in FY25 as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday.

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The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining amount through debt instruments, according to Jugeshinder 'Robbie' Singh, CFO, Adani Group.

Also, the renewable energy firm Adani Green will complete 6-7 GW project, while the solar wafer manufacturing unit will attain scale. The firm's renewable energy target is revised to 50,000 MW from 45,000 MW by 2030. The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40 per cent higher than what the portfolio is estimated to have incurred in FY24.