‘Adani Group to spin off airports, data centre biz by 2028’

NEW DELHI: Billionaire Gautam Adani’s group plans to spin off businesses like hydrogen, airports and data centre between 2025 and 2028 after they achieve a certain investment profile, CFO Jugeshinder Singh said.

Adani Enterprises, which is looking to raise Rs 20,000 crore in a follow-on share sale, is the business incubator for the group.

Over the years, businesses such as ports, power and city gas were first incubated in AEL before being spun off or demerged into separate listed companies.

AEL currently houses new businesses such as hydrogen, where the group plans to invest $50 billion over the next 10 years across the value chain, flourishing airport operations, mining, data centre and roads and logistics.

“The businesses have to achieve a basic investment profile and maturity before being considered for a demerger. Between 2025 and 2028 we think these businesses can achieve the desired levels for a demerger,” Singh said.