Adani Group plans to list airport business in near future
Adani Airport Holdings Ltd. is preparing to go public after reaching specific milestones, said Jeet Adani, head of the conglomerate's airport division, on Wednesday. He revealed, "In the near future, yes (will list the airport business). It depends on some triggers. We have a couple of triggers that we need to cross before we do it." One such trigger is the operational status of Navi Mumbai International Airport and a year of stable operations.
Navi Mumbai Airport: Status and expansion plans
The construction of the airport in Navi Mumbai is expected to be completed by December, Adani said. He explained that all airports managed by the group are currently undergoing expansion, which may take some time to finish. During the last fiscal year (April 2022-March 2023), Adani Airport served eight crore passengers, with a significant increase in foot traffic across all airports. Adani stated that traffic growth has already surpassed pre-pandemic levels and continues to rise.
Passenger footfall growth and business model
Adani further elaborated on the company's business model, saying, "Ultimately, our business model has always been that, once the business is completely self-sufficient and able to demonstrate growth on its own cash flows, then we can do listing." Adani Airport Holdings Ltd., a 100% subsidiary of Adani Enterprises, oversees seven airports. These airports are in Mangaluru, Lucknow, Ahmedabad, Guwahati, Jaipur, Thiruvananthapuram and Mumbai. It accounts for 25% of passenger footfalls and 33% of India's air cargo traffic.
