India’s Adani Group, headquartered in Gujarat, is preparing to list its airports business, Adani Airport Holdings Ltd., by March 2027 as part of a fast-tracked $100 billion investment plan across energy, logistics, and infrastructure.
Adani Group, the Ahmedabad-based Indian multinational conglomerate led by billionaire Gautam Adani, is preparing to list its airport business, Adani Airport Holdings Ltd., by March 2027. This move is part of a broader $100 billion capital expenditure plan aimed at accelerating growth across energy, infrastructure, and logistics sectors over the next five to six years.
Adani Airport Holdings is currently owned by Adani Enterprises Ltd., the group’s flagship entity. It operates eight airports across India and is expected to inaugurate a new terminal near Mumbai soon. The company is India’s largest private-sector airport operator.
According to company executives, who declined to be named due to the private nature of the plans, the conglomerate has doubled its initial 10-year capex timeline, aiming to complete the $100 billion investment by 2030. Approximately $50 billion will be funded through internal accruals, while $30 billion will be raised from domestic and international markets. The remaining $20 billion is expected to come from the monetization of new assets, including airports, roads, and renewable energy projects.
This aggressive push comes after the group faced significant scrutiny in 2023, following allegations by Hindenburg Research and a U.S. Department of Justice probe into alleged bribery involving its founder. Despite these setbacks, Adani Group has denied all allegations and appears to be regaining momentum.
In April 2025, the group raised approximately $750 million in bonds, with BlackRock Inc. subscribing to a third of the issue. In May, DBS Group Holdings Ltd. provided a $150 million bilateral loan to the group’s ports unit. Most recently, Adani Airports secured $750 million via external commercial borrowings from international banks.
The company is also preparing for an initial public offering (IPO) of its metals unit by 2030, further highlighting its intention to expand and diversify its portfolio across various industries.
Gautam Adani recently visited China to meet industrial equipment manufacturers, marking his first major overseas visit since the DOJ investigation began. While the agenda of the visit remains unclear, the trip reflects the group’s ongoing global engagement and strategic ambitions.
