New Delhi: Gautam Adani, the second biggest rich man of India and Asia, is preparing to play a big bet abroad. Adani Airport Holdings Limited (AAHL), a subsidiary of <a href="http://www.time.news/sebi-sent-show-cause-notice-to-six-companies-of-adani-group-know-what-are-the-allegations-six-adani-group-companies-receive-show-cause-notices-from-sebi-2024-05-04-022353/" title="SEBI sent show cause notice to six companies of Adani Group, know what are the allegations – six Adani group companies receive show-cause notices from SEBI
– 2024-05-04 02:23:53″>Adani Enterprises, the flagship company of Adani Group, on Saturday announced that it has formed a new unit in the UAE named Celeritas International FZCO. With an authorized and paid-up share capital of Dh100,000, Celeritas is set to operate in the Jebel Ali Free Zone. However, the company said in an exchange filing that it has not yet started business activities. Adani Airport Holdings holds 74% stake in Celeritas and there is no related party transaction involved in the acquisition. April Moon Retail Pvt Ltd, a joint venture company of Adani Airport Holdings Ltd, is being bought by Cococart Ventures Pvt Ltd for Rs 200 crore, according to a stock exchange filing. Ready to acquire 74% stake. Adani Enterprises operates the group’s airports, roads and data center businesses. The company has planned a capital expenditure of Rs 80,000 crore for the current financial year. Of this, Rs 50,000 crore has been allocated for airport business and Adani New Industries. Adani Airports has seven operational airports and one under construction airport in Navi Mumbai. It has outlined an investment of $21 billion in the next decade.
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airport business
Adani Group has been operating in the airport business since 2019 and is currently the largest private operator of airports in India. Adani Enterprises’ consolidated net profit rose 116% to Rs 1,454 crore in the first quarter ended June 2024 from last year. It was Rs 674 crore in the same period a year ago. The company’s revenue from operations during the period under review increased by 12% to Rs 25,472 crore as compared to Rs 22,644 crore in the same period last year. On Friday, shares of Adani Enterprises closed at Rs 2693.70, down 4.76%.