Adani Enterprises set for value unblocking, to list subsidiaries by 2031

Adani Group's flagship company will list subsidiaries in airports, metals, roads, and data centres, between 2027 and 2031

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Adani Group's flagship company, Adani Enterprises, is getting ready for another round of major value unblocking by listing several of its subsidiaries, including those in airports, metals, roads, and data centres, between 2027 and 2031, The Economic Times reported.

 

Citing sources, the report said that over the period of the next three years, Adani Enterprises expects several large assets to mature, thereby paving the way for new listings. The development is similar to the one that happened between 2016 and 2020, when its incubated firms, like Adani Total Gas, Adani Green Energy, and Adani Wilmar, went public.

 

"By 2027-28, the company expects the Ebitda of the airport's business to be about three times its current size. The copper and other materials businesses will be fully operational and ready to list", the report added, citing a source.

 

During this period, the Ganga Expressway project and seven other road projects are also expected to be completed.

 

Largest private operator of airports  

 

Billionaire Gautam Adani-led group is the largest private operator of airports in the country, with as many as eight airports in its fold. The company's airport business is housed under its wholly-owned subsidiary, Adani Airports Holdings, which also owns seven operational airports in cities like Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore, Mumbai, and Thiruvananthapuram.

 

The airport business reported Ebitda of ₹1,062 crore in the September quarter, marking a 43 per cent increase from the same period last year.

 

First phase of city-side developments begin

 

The group has also commenced its first phase of the city-side development, which is spread across 114 acres at its airports across cities like Mumbai, Ahmedabad, Jaipur, and Guwahati. The initiative focuses on the non-aero segment, which is fast becoming a key contributor to the company’s revenue and operating profit.

 

In its metal business, the company is aiming to have the second-largest portfolio in the next few years, after Vedanta.

 

The second phase of listings at Adani Enterprises is expected to replicate the company’s earlier wave of value creation, with its newer business verticals likely to generate substantial shareholder wealth over the next decade.

 

Adani Group forays into BESS

 

Earlier today, the Adani Group announced its foray into Battery Energy Storage System (BESS) with a 1,126 MW project. The project is capable of storing 3,530 megawatt-hour (MWh) of energy and is expected to be commissioned in March 2026. Once commissioned, it will become the largest BESS installation in the country, one of the world’s biggest single-site battery storage projects.