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Adani Group to Demerge More Business, Shrugs off Debt Concerns in India"

India's Adani Group, controlled by billionaire Gautam Adani, plans to spin off more businesses by 2028.

The company plans to demerge its metals, mining, data center, airports, roads, and logistics businesses, according to Chief Financial Officer Jugeshinder Singh. The criterion for these businesses is to achieve a basic investment profile and experienced management by 2025-28, which is when the company plans to demerge them, Singh said in a media briefing.

The Adani Group is betting big on its airport business and aims for it to become the largest services base in the country in the coming years, outside of government services, Singh said. The group has spun off its power, coal, transmission, and green energy businesses in recent years. Adani, the world's third-richest man according to Forbes, has been diversifying his empire and now owns a media company. The company is offering a discount of 8.5%-13% to attract retail investors. The group has typically incubated businesses within its flagship company and later demerged and listed them.

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