Adani Group To Spin Off Hydrogen Businesses by 2028: CFO
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India’s Adani Group is owned and controlled by billionaire Gautam Adani. It plans to spin-off businesses such as hydrogen, airports and data centers by 2028, after it achieves a certain investment profile. Jugeshinder Singh, the company’s Chief Financial Officer, stated that.
Adani Enterprises Ltd (AEL), which seeks to raise Rs. 20,000 crore through a follow-on sale of shares, is the incubator for the company. Businesses such as power, ports and city gas have been incubated at AEL for years before being spun off or merged into their own listed companies.
AEL houses new businesses like hydrogen. The group plans to invest USD 50 billion over the next ten years in the value chain. This includes thriving airport operations, mining and data centre, roads and logistics,…