Adani Plans $100 Billion Capex, Airport IPO by 2027

Indian billionaire Gautam Adani's conglomerate is accelerating its $100 billion capital expenditure plan, aiming to deploy the funds over five to six years instead of a decade, focusing on energy, logistics, and infrastructure sectors. As part of this expansion, Adani Airport Holdings Ltd., which operates eight airports and is India's largest private-sector airport operator, is preparing to spin off and list by March 2027. The group plans to raise $30 billion through domestic and international lending to support these investments and refinance existing debt, including ₹1.6 trillion in maturities between 2025 and 2030. Adani Airports recently secured $750 million in external commercial borrowings to enhance infrastructure and expand non-aeronautical revenue streams at six of its airports, reflecting a strategy to diversify income beyond traditional aeronautical charges. The conglomerate is also investing in green energy, setting up gigafactories for solar, wind, and hydrogen technologies, with multiple companies targeting net zero emissions by 2050 or sooner. This aggressive growth and sustainability strategy comes as the group moves past regulatory scrutiny and a U.S. bribery probe, both of which Adani has denied.