Mumbai:
Adani Enterprises has announced its plans to list its airport business by the financial year 2028.
This revelation was made by senior company officials to CNBC-TV18.
As part of its strategic financial maneuvers, the company also aims to raise between $2 billion and $3 billion through equity in the current financial year.
Company Performance and Market Reaction
Since its IPO in 1994, Adani Enterprises has successfully incubated and listed six independent businesses,
which together hold a market cap exceeding $10 billion.
On June 25, shares of Adani Enterprises experienced a slight decline of 0.79%,
closing at Rs 3169.40 on the Bombay Stock Exchange (BSE).
Brokerage Opinions on Adani Enterprises
Cantor Fitzgerald
- Rating: “Buy”
- Target Price: ₹4,368 per share
Valuation Basis: Driven primarily by three core businesses, notably the airport business, valued at ₹1,622 per share.
Jefferies
- Recommendation: “Buy”
- Target Price: ₹3,800 per share
Future Prospects: Notes that Adani Enterprises aims to bid for new airports under India’s airport privatization plan.
Both Jefferies and Cantor Fitzgerald are the only analysts currently covering Adani Enterprises.
Cantor Fitzgerald noted that the investor community’s knowledge of Adani largely stems from a report published in early 2023, referring to the Hindenburg report.
Despite the initial setbacks from the report,
Adani Enterprises’ shares have since recovered all their losses.
Adani’s Airport Portfolio
Adani Enterprises operates eight airports across India, with seven currently operational.
The Navi Mumbai International Airport is expected to be completed by the end of the year.
This extensive airport network underpins the company’s valuation and its strategic importance within the Adani Group’s portfolio.
