According to reports, the Adani Group is planning to list two more companies in their businesses in the stock exchanges of India, after the market capitalization of their six listed companies that emerged more than 5 times in the last year.
According to media reports, airport and food businesses in the Adani Group could be public in the near future. The airport business is owned by Adani Enterprises as Holdings Adani Airports, while Adani Wilmar is a joint venture between the Adani and Wilmar International group, based in Singapore.
Currently, the Adani Group has six companies listed with a combined market capitalization of more than $ 8.5 Lakh Crore, shoot from a little more than ₹ 1.6 Lakh crore last year.
If you are on the list, these two companies could help Gautam Adani overcome Mukesh Ambani as the richest Indian. According to the list of real-time Forbes multipliers, Ambani is the richest in India with $ 85 billion wealth, while Adani is second with $ 75.4 billion wealth.
The airport business could be the next one to take off, but Covid-19 playing SpOILSPORT
A report from the economic times stated that the airport business will divert in a separate entity before the listing process is performed. The report also adds that before the initial public offering (OPI), the Adani Group will raise $ 500 million (approx. ₹ ₹ 3,600 million rupees) for the private base business.
However, the COVID-19 crisis on progress could temporarily play Spoilseport.
“Discussions were held between the main officers of the company and the potential investment bankers. At least half a dozen global banks and a group of national bankers have recently met major officials. However, the group is waiting for Best air passenger numbers, since the Covid pandemic significantly reduced passenger traffic, “said the report, citing an unnamed source, adding that the airport’s business list is being directed for the end of the year.
The Adani Group currently operates six Airports in India, maintaining the service of 10% of the country’s total passenger traffic. In addition to this, the company acquired a 74% stake in Mumbai International Airport Ltd, which administers the Chhatrapati Shivaji Maharaj International Airport.
