Adani Group To Spin Off Hydrogen, Airports, Data Centre Businesses By 2028: Chief Financial Officer
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Adani group is looking to become one of the lowest cost producers of hydrogen. 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, it's Chief Financial Officer Jugeshinder Singh said. Adani Enterprises Ltd, 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 USD 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 the...