Upcoming Adani IPO: Adani Group Gears Up For Multiple IPOs From 2026-2028; Check Names & Other Details

The Adani Group, a big name in India's infrastructure and energy sector, is gearing up for a new phase of growth. Founded by Gautam Adani in 1988, the conglomerate has rapidly expanded into diverse industries, ranging from ports and airports to renewable energy and food processing. In recent years, the Adani Group has gained immense market attention, with its stocks showing volatility due to allegations of corporate wrongdoing and market manipulation. Yet, the group continues to defy challenges, as seen in its recent plans to raise billions through a series of Initial Public Offerings (IPOs) in the coming years.

2023's Volatility
The Adani Group experienced a tumultuous 2023, marked by market turbulence and scrutiny over its corporate practices. Allegations of stock manipulation and financial irregularities led to a sharp decline in the group's market capitalization. By the end of 2023, the combined market value of Adani's 10 listed companies dropped from Rs 19.6 lakh crore at the close of 2022 to Rs 13.6 lakh crore.

Despite these challenges, the group managed to find some relief following a Supreme Court hearing, which helped stabilize investor sentiment. A rebound in Adani equities and Gautam Adani's fortune rose, placing him at #15 on the Bloomberg Billionaires Index.

Why the Adani Group Is Preparing IPOs?
Amidst the volatility, the Adani Group has been proactive in charting its future course. Between 2026 and 2028, Gautam Adani plans to take at least five companies public, raising significant capital to strengthen the group's financial position. The primary motivation behind these IPOs is to improve the group's debt ratios, widen its investor base, and generate substantial cash flow. These efforts are geared towards sustaining growth across its numerous verticals, spanning from airports and highways to green energy and logistics.

The Adani Group has already made strategic moves to spin off key divisions in power, coal, and transmission, along with green energy. Its future IPO pipeline will focus on businesses in high-growth sectors like data centres, airports, mining, metals, and road infrastructure, among others.

Upcoming IPOs
Adani New Industries
Adani New Industries, established in January 2022, is the group's foray into the rapidly growing renewable energy space. The company focuses on green hydrogen projects, solar module batteries, and wind turbines. Back in 2021, the Adani Group announced plans to invest a whopping $70 billion in the renewable energy sector over the next decade. The upcoming Adani New Industries IPO will help fund these initiatives, and repay the debt incurred.

The company's goal is to produce the least expensive green hydrogen, a key resource in the transition to a low-carbon future. Additionally, Adani New Industries is exploring the production of downstream products like green urea and green ammonia.

Adani Airport Holdings
Adani Airport Holdings is a major player in the development of airport infrastructure and the aviation sector. Since its inception, the company has built a portfolio of six brownfield airports, including Mumbai Airport-India's second-busiest airport for passenger and cargo traffic-and the new Navi Mumbai Airport.

With its acquisition of Mumbai Airport from the GVK Group, Adani Airport Holdings is now the largest airport operator in India, handling 25% of the country's passenger traffic and 40% of its aviation cargo. The company's IPO will help raise capital to meet the growing demand for airport infrastructure and enhance its market presence.

Adani Road Transport
Focused on large-scale infrastructure projects, Adani Road Transport is actively involved in developing highways, railroads, metro-rail systems, and expressways. With an order book exceeding 5,000 lane kilometres, the company is playing a crucial role in advancing India's infrastructure development. It operates using innovative build-operate-transfer models, which have garnered significant attention from both the government and private investors.

The IPO for Adani Road Transport will help the company secure additional funding for its ongoing and future projects, aligning with the government's push to improve the nation's transportation network.

As the Adani Group prepares to celebrate 30 years of Adani Enterprises' listing on the stock exchange in November 2024, the conglomerate is looking far beyond its flagship company. In addition to its already listed companies such as Adani Wilmar, Adani Power, Adani Ports and Special Economic Zone, Adani Green Energy, Adani Total Gas, and the newly acquired Ambuja Cements and ACC-the group is setting the stage for more listings in the next few years.

*Data from 5Paisa*