Know more about 5 Adani Group companies set for IPOs by 2028

Gautam Adani, among the world’s richest persons, is chairman of the $21 billion  Adani Group with interests in ports, airports, power generation and transmission, green energy, edible oils, roads and railways, metals and mining, cement and real estate.

The 60-year-old Adani has plans to take five of his group companies public between 2026 and 2028, said a Bloomberg report quoting Jugeshinder Singh, Adani Group CFO. 

Also read: Adani CFO: Spin-off of hydrogen, airports, and data center businesses by 2028

The five companies are Adani New Industries Ltd, Adani Airport Holdings Ltd, Adani Road Transport Ltd, AdaniConneX Pvt Ltd and the group’s metals and mining units.

Adani New Industries, a utility company, carries out green hydrogen projects, and manufactures wind turbines and solar modules batteries, among other components.  In June 2022, Adani said France-based TotalEnergies would acquire a 25% minority interest in Adani New Industries 

Adani Airport Holdings, through which the group has been operating in the airports business since 2019, has won the contract to modernise and operate six airports for 50 years – Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram. It also manages Mumbai International Airport.

Adani Road Transport, incorporated in March 2018, aims to capitalise on the opportunities in the road, metro and rail sector by developing national highways, expressways, tunnels, metro-rail, and railways. The company owns the longest private railway lines across about 300 km in India, connecting its ports, mines and other business hubs. 

Also read: Gautam Adani: Terror attack survivor, Asia’s richest man, is now on to a mega FPO

AdaniConneX is a joint venture between the Adani Group and EdgeConneX, a private data centre operator. The company’s goal is to install 1 GW of data centre capacity over the next decade. Its data centre in Chennai is touted to be a first-of-its-kind multi-tenant purpose-built facility that connects with a global network of data centres.

The Adani Group’s metals and mining unit includes aluminium, copper and mining services, and has become one of the largest developers and operators of coal mines in the country. The company also owns mines in Indonesia and Australia, and has ambitions of being a global player.

Formal demerger

According to the Bloomberg report, the five companies already have scale, and “would need to demonstrate their capability for independent execution, operations and capital management before a formal demerger could be implemented”.