In a strategic move, the Adani Group has set its sights on bidding for the Airports Authority of India’s (AAI) stake in the Mumbai airport, clarifying its disinterest in AAI’s residual shares in Delhi, Bengaluru, and Hyderabad airports. The conglomerate’s bid for AAI’s Mumbai stake aligns with its pursuit of a controlling position.
While AAI currently holds a 26% stake in joint ventures managing Delhi and Mumbai airports, along with a 13% stake in those operating Hyderabad and Bengaluru airports, the Adani Group’s bid solely for Mumbai’s stake implies a focused approach. This decision might result in lower revenues for the government from the conglomerate. The Adani Group, already overseeing operations at Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram airports, plans to infuse a substantial Rs 60,000 crore in the next 5-10 years into its airport ventures. Approximately half of this investment will be directed towards enhancing terminal and runway capacities over the next five years, with the remaining funds allocated for the city-side development of airports over a decade. During a press briefing, Adani Airports Holdings (AAHL) Chief Executive Officer Arun Bansal Said “It is a huge amount, but Adani Enterprises Ltd (AEL) will support it through internal accruals. We are a start-up operating under AEL, so AEL will fund it for us
