Adani Enterprises May Demerge Airport Business By 2028

Airport operations could be the first business demerged from Adani Enterprises Ltd by 2027 or 2028, according to Jugeshinder Singh, Chief Financial Officer of the Adani Group. Singh made the statement while speaking to reporters at the launch of the company's 4-billion-rupee non-convertible debenture issue, which includes a greenshoe option for an additional 4 billion rupees. Adani Enterprises, which incubates several listed companies within the Adani Group, has long discussed plans to demerge its airport, roads, water, and new energy businesses into independent entities. Singh outlined three conditions that must be met for these businesses to operate independently: they must be fully self-sustaining, have the organizational capability to manage operations from both board and management levels, and consistently invest at a rate that supports growth. "We believe that within a year, airports should be the first business ready for demerger. We're maintaining our target of 2027-28," Singh said. Regarding the decision to raise debt through non-convertible bonds, Singh noted a specific intention to diversify the sources of capital, indicating that this debenture issue may be one of several to come