Adani Enterprises has announced an ambitious Rs 96,000 crore investment plan for its airport operations over the next five years. The conglomerate aims to focus on significant infrastructure upgrades and real estate development across its airport portfolio, with a particular emphasis on domestic aviation projects.

Navi Mumbai International Airport: A Key Focus

The majority of the capital expenditure is earmarked for the Navi Mumbai and Mumbai airport projects. Navi Mumbai International Airport (NMIA) is slated to become operational by October, with an initial capacity to handle 20 million passengers annually. The group has allocated Rs 19,000 crore for this first phase of development.

Looking ahead, Adani Group is evaluating expansion options for NMIA's second terminal:

• Investment range: Rs 30,000 crore to Rs 45,000 crore
• Long-term passenger capacity goal: 90 million annually
• Total potential investment: Approaching Rs 1 lakh crore

Mumbai Airport Expansion

For the existing Mumbai airport, plans include:

• Construction of a new Terminal 1 by 2032
• Estimated investment: Rs 5,000 crore

Other Airport Developments

The investment strategy extends beyond Mumbai, with several other airports in the Adani portfolio set for upgrades:

• Terminal upgrades planned for Ahmedabad, Jaipur, and Thiruvananthapuram airports
• Ongoing expansion in Lucknow
• New terminal expected in Guwahati by late this year

Funding and Partnerships

To finance this extensive investment plan, Adani Group intends to utilize:

1. Internal accruals
2. Debt refinancing

The conglomerate is also collaborating with major airlines, including IndiGo and Air India, to support its airport business growth strategy.

This substantial investment underscores Adani Group's commitment to enhancing India's airport infrastructure and capitalizing on the growing domestic aviation market. By focusing on key projects like the Navi Mumbai International Airport and upgrading existing facilities, the group aims to significantly boost passenger handling capacity and improve airport services across the country.

Adani Enterprises has completed its exit from AWL Agri Business, marking a significant shift in its business focus. The conglomerate sold its remaining 10.42% stake for Rs 3,732 crore through open market transactions, as confirmed by a regulatory filing from Adani Enterprises Limited.

Transaction Details

Adani Commodities LLP, a subsidiary of Adani Enterprises Limited, executed the sale of 13.54 crore equity shares at an average price of Rs 275.50 per share. The transaction was carried out in 11 tranches, attracting a diverse group of institutional investors.

Key Buyers

The largest buyer in this transaction was Dubai-based Shajaeatan Investment FZCO, which acquired an 8.52% stake for Rs 3,050 crore. Other notable buyers included:

• Quant Mutual Fund
• IDFC Mutual Fund
• Bandhan Mutual Fund
• Jupiter Fund Management
• Morgan Stanley Asia Singapore
• Susquehanna International Group
• Franklin Templeton
• Vanguard
• Duro Capital

Divestment Timeline

This sale represents the final step in Adani Group's complete exit from AWL Agri Business. The divestment process included:

1. Earlier sale of a 20% stake to Wilmar International Singapore for Rs 7,150 crore
2. A 13.51% stake sale in January for Rs 4,855 crore
3. The current sale of the remaining 10.42% stake for Rs 3,732 crore

In total, Adani Group has divested its entire 44% stake in AWL Agri Business.

Strategic Shift

The complete exit from AWL Agri Business signifies Adani Group's strategic decision to move away from the FMCG business and focus more on its core infrastructure operations.

AWL Agri Business Performance

AWL Agri Business, which operates the Fortune brand, reported strong financial performance:

Market Response

Following the announcement, AWL shares closed down 1.31% at Rs 274.60 on the stock market.

Regulatory Compliance

As per the LODR (Listing Obligations and Disclosure Requirements) data, Adani Enterprises Limited duly informed the stock exchanges about this transaction. The company stated that Adani Commodities LLP sold the shares through a block deal via the stock exchange mechanism, in compliance with regulatory requirements.

This divestment marks a significant milestone for Adani Group as it reshapes its business portfolio, potentially signaling a more focused approach towards its infrastructure and energy sectors in the coming years.