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Adani Group to hive off airport business, launch IPO

Economic Times  

The Adani Group has begun preliminary talks to separate its airport business from holding entity Adani Enterprises Ltd as a first step toward listing the unit. The conglomerate is expected to raise USD 500 million through a private placement of shares in Adani Airports Holdings before an eventual initial public offering. Adani controls Mumbai airport as well six regional facilities, and is targeting a valuation of INR 25,500-29,200 crore (USD 3.5-4 billion) for the business.