Adani group plans Airport unit IPO by 2027, hastens $100 billion capex

Adani group plans Airport unit IPO by 2027, hastens $100 billion capex

The ports-to-power conglomerate has 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

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.