Deal Talk: Adani plans to list airport, edible oil units; Cardekho eyes unicorn tag

 Deal Talk: Adani plans to list airport, edible oil units; Cardekho eyes unicorn tag

Gautam Adani, chairman of Adani Group

Billionaire Gautam Adani-led Adani Group has initiated preliminary discussions to demerge its airports business from holding company Adani Enterprises Ltd into a separate listed entity, a media report said.

Adani Airports Holdings is planning to raise $500 million (about Rs 3,650 crore) via a private placement before launching an initial public offering, The Economic Times reported.

Adani Airports operates the Mumbai airport, the world’s busiest single-runway airport.

The company has held discussions with half a dozen top investment banking firms and is seeking a valuation of Rs 25,000-30,000 crore, the report said.

Adani Wilmar IPO

In a separate development involving the Adani Group, the port-to-power conglomerate is looking to list its edible oil unit Adani Wilmar through a $1 billion (Rs 7,300 crore) IPO this year, as per a report by news website Moneycontrol.

The report said Adani Wilmar’s IPO could be a combination of a primary and secondary share sale. The Adani Group may target a valuation of $8-9 billion for the unit via the IPO.

The company has engaged with investment banks JP Morgan, Kotak Mahindra, BofA Securities and Credit Suisse for the planned IPO, the report said.

Adani Wilmar is a joint venture of Adani Group and Singapore’s Wilmar International Ltd. Wilmar ’s China unit raised about $2.2 billion via an IPO last year.

Cardekho funding

Girnar Software Pvt. Ltd, the company that owns and operates Cardekho, has engaged in fundraising discussions that could push the automobile portal into the unicorn club, The Economic Times reported.

Cardekho is negotiating with investors to raise at least $150 million in what could be its largest fundraising exercise.

The company expects to conclude the ongoing funding round in the next couple of months and use the proceeds to expand its recently launched used-cars retailing e-commerce platform, the report said.

The Capital Quest