Read more about Moody s downgrades Delhi International Airport rating following Covid surge on Business Standard. Outlook negative; Moody s says reduction in revenue will lead to additional debt being required to complete the airport s expansion
Aviation Minister Hardeep Singh Puri on Wednesday tweeted a clarification after an old image of a 'mistranslated' airport sign began doing the rounds of the Internet again, flagging it as fake.
The Gautam Adani-led business house entered the airport sector in 2019.
Rs 30k-cr Capex Plan for Airports
Incubated within Adani Enterprises, Adani Airports won the mandate to modernise and operate six airports – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram – through the Airports Authority of India’s tendering process. The unit has become the country’s top airport platform, catering to at least 10% of India’s air passenger traffic, exceeding 200 million people in FY20.
In August last year, the group announced that it had acquired a 74% stake in Mumbai International Airport (MIAL), which runs Chhatrapati Shivaji Maharaj International Airport. This gave Adani ownership of the upcoming Navi Mumbai Airport, in which MIAL holds 74%. Adani Airports has debt of Rs 4,100 crore while that of AEL amounts to Rs 15,293 crore.
Adani Group initiates talks to spin off airport biz, launch IPO
The Gautam Adani-led group will likely raise $500 million through a private placement of shares in Adani Airports Holdings prior to an eventual IPO
BusinessToday.In | June 10, 2021 | Updated 10:21 IST
Adani Group controls Mumbai airport as well as six regional facilities and is aiming at a valuation of Rs 25,500-29,200 crore for the business
The Adani Group has started initial discussions to hive off its airport business from holding firm Adani Enterprises Ltd.
It is said to be the port-to-power conglomerate s first move towards listing the unit. The Gautam Adani-led group will likely raise $500 million through a private placement of shares in Adani Airports Holdings prior to an eventual IPO (initial public offering).
The Adani Group is planning to hive off its airport business from the holding company Adani Enterprises. According to media reports, the plan is to list the airport business unit separately and raise USD 500 million via a private placement of shares in Adani Airports Holdings before launching a fina