Billionaire Gautam Adani‘s group is planning to list its Adani Airports unit by 2027, as part of a growth plan that requires investing $100 billion across businesses over the next few years, Bloomberg News reported on Wednesday.
The unit is set to be spun off and listed by March 2027, the report said, citing Adani Group executives who spoke on the condition of anonymity.
Adani Airports operates eight airports across India, including the Navi Mumbai International Airport, located in the outskirts of India’s financial hub, which the company expects will be operational soon.
The company also doubled the pace of its capital spending plan and now expects to allocate $100 billion in five to six years instead of spreading it out over a decade as announced before, the report added.
The airport unit secured a $750 million investment last week from a consortium of international banks. Part of the funds will be used to refinance debt of $400 million.
Reuters could not immediately verify the report, and Adani Group did not immediately respond to a request for a comment.
Reuters
