Adani Groupcurrently has six companies listed on the Indian stock exchanges.
- If listed, the Adani Group will have seven infrastructure companies and one consumer business with public shareholding.
- The addition of two more companies on the stock exchanges could help
Gautam Adanibeat Mukesh Ambani as the richest Indian.
The Adani Group is now reportedly planning to list two more of its businesses on the Indian stock exchanges, after the market capitalisation of its six listed companies surged by over 5 times in the last year.
According to media reports, the airport and food businesses of the Adani Group could go public in the near future. The airports business is owned by Adani Enterprises as
Currently, the Adani Group has six listed companies with a combined market capitalisation of over ₹8.5 lakh crore, skyrocketing from a little over ₹1.6 lakh crore last year.
If listed, these two companies could help Gautam Adani beat Mukesh Ambani as the richest Indian. According to Forbes’ real-time billionaires
list, 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 to take off, but Covid-19 playing spoilsport
report by The Economic Times stated that the airports business will be hived off into a separate entity before the listing process is undertaken. The report further adds that before the initial public offering (IPO) is launched, the Adani Group will raise $500 million (approx. ₹3,600 crore) for the business on a private placement basis.
However, the ongoing Covid-19 crisis could temporarily play spoilsport.
“Discussions were held between top company officials and potential investment bankers. At least half a dozen global banks and a bunch of domestic bankers have met top officials recently. However, the…