Tag Archives: Adani Group

According to HVS Anarock’s latest report, the Adani Group plans to spend US$2 billion to build Mumbai’s largest international convention centre (ICC), around 1 million square feet near the international airport. The Mumbai Metropolitan Region Development Authority (MMRDA) has also agreed to its design, but approval for the full blueprint is expected soon.

In all likelihood, the Adani Group may come out with an Initial Public Offering (IPO) for its airport business that is owned Adani Enterprises as Adani Airports Holdings. The airport business may become an entity separate from the holding Adani Enterprises. Before the launch, the Group is looking to raise $500 million on a private placement basis.

The Adani Group signed concession agreements with the Airports Authority of India, for the management, operations and development of Guwahati, Jaipur and Thiruvananthapuram airports. The agreements were exchanged between N.V. Subbarayudu, Executive Director, Strategic Initiative Unit, AAI & Behnad Zandi, CEO Adani Airport in the presence of AAI Chairman, Arvind Singh, AAI Board Members & senior officials and Adani Enterprises.

On 2nd Nov’20 at midnight, Airport Authority of India’s (AAI’s) senior officials exchanged Memorandum of Understanding & handed over Lucknow Airport to Adani Group. A.K Sharma, APD, Lucknow exchanged symbolic key in accordance with concession agreement & future development of the airport.

Explaining the thought behind the recent acquisition of controlling interest in the Mumbai Airports, Gautam Adani, Chairman, Adani Group, says, “The Mumbai International Airport is absolutely world-class and I compliment the GVK Group for having built such an outstanding airport. The addition of the Mumbai International Airport and the Navi Mumbai International Airport to our existing portfolio of 6 airports provides us a transformational platform that will help shape and create strategic adjacencies for our other B2B businesses. This acquisition helps us redesign the way we will serve our customer base and bridge our B2C and B2B business models.”