Adani plans Rs 15,000 cr fund for proposed airport in Navi Mumbai
07 Dec 2021
2 Min Read
CW Team
Adani Airport Holdings is ready to fund Rs 15,000 crore from State Bank of India for the proposed airport in Navi Mumbai.
The group has prepared one of the biggest project financing loans from India's largest lender, the State Bank of India, indicating the return of CAPEX loans for infrastructure projects.
The estimated project cost has additionally surged by Rs 4,000 crore to Rs 20,000 crore. Of the total price, Rs 5,000 crore will be funded by the Adani Group and the rest will come via borrowings.
The bank has achieved the project appraisal. It is presently finalising the contours of the loan, which is anticipated to be long term, probably of the 15-year tenor.
SBI would initially extend the planned credit line but is anticipated to down-sell it to other interested lenders.
Adani Group took operational control of the Mumbai airport from the GVK group in July and holds a 74% share in Mumbai International Airport Limited (MIAL), which owns 74% share in the Navi Mumbai airport. The rest is held by the Maharashtra government. MIAL is the firm that runs Mumbai airport.
After the procurement of GVK's Mumbai International Airport, India's second busiest, and six other airports of AAI, Adani Airport Holdings Ltd estimates 25% of all passenger traffic and 33% of air cargo.
With air passenger numbers calculated to increase as the industry comes out of the influence of the Covid-19 pandemic, airport infrastructure is ready to observe billions of dollars of investments as India races to meet its airport infrastructure requirements.
While the Adani group capital investments will be in Navi Mumbai airport and AAI airports such as Guwahati, Trivandrum, Ahmedabad, Jaipur, Lucknow and Mangalore, Jewar airport in Greater Noida is additionally set to witness an investment of Rs 5,000 crore till early 2024.
Adani Airport Holdings is ready to fund Rs 15,000 crore from State Bank of India for the proposed airport in Navi Mumbai.
The group has prepared one of the biggest project financing loans from India's largest lender, the State Bank of India, indicating the return of CAPEX loans for infrastructure projects.
The estimated project cost has additionally surged by Rs 4,000 crore to Rs 20,000 crore. Of the total price, Rs 5,000 crore will be funded by the Adani Group and the rest will come via borrowings.
The bank has achieved the project appraisal. It is presently finalising the contours of the loan, which is anticipated to be long term, probably of the 15-year tenor.
SBI would initially extend the planned credit line but is anticipated to down-sell it to other interested lenders.
Adani Group took operational control of the Mumbai airport from the GVK group in July and holds a 74% share in Mumbai International Airport Limited (MIAL), which owns 74% share in the Navi Mumbai airport. The rest is held by the Maharashtra government. MIAL is the firm that runs Mumbai airport.
After the procurement of GVK's Mumbai International Airport, India's second busiest, and six other airports of AAI, Adani Airport Holdings Ltd estimates 25% of all passenger traffic and 33% of air cargo.
With air passenger numbers calculated to increase as the industry comes out of the influence of the Covid-19 pandemic, airport infrastructure is ready to observe billions of dollars of investments as India races to meet its airport infrastructure requirements.
While the Adani group capital investments will be in Navi Mumbai airport and AAI airports such as Guwahati, Trivandrum, Ahmedabad, Jaipur, Lucknow and Mangalore, Jewar airport in Greater Noida is additionally set to witness an investment of Rs 5,000 crore till early 2024.
Image Source
Next Story
ClickPost Launches Atlas to Benchmark E-commerce Logistics
ClickPost, a leading logistics intelligence platform, has launched Atlas, a subscription-based benchmarking tool designed to transform how e-commerce brands strategise logistics. Powered by ClickPost鈥檚 proprietary network, which processes over 50 million shipments each month, Atlas enables brands to benchmark key operational metrics in real time against industry peers and standards.Unlike traditional dashboards, Atlas delivers comparative insights鈥攆rom fulfilment speeds, RTO rates and average order values to city-level delivery times and sales data鈥攁llowing brands to identify operational..
Next Story
Kalyani Launches Two New LivingTree Towers in Bengaluru
Bengaluru-based Kalyani Developers has announced the launch of Towers 3 and 4 at its flagship residential project, Kalyani LivingTree, located in KIADB Aerospace Park. The expansion adds 525 premium 3BHK apartments, ranging from 1300 to 1600 sq ft, and over 7.5 lakh sq ft of built-up area. Prices start from Rs 1.2 crore.These towers, the most exclusive in Phase 1, offer uninterrupted pool and landscape views, and access to over 60 lifestyle amenities, two clubhouses totalling 1 lakh sq ft, and more than 80 per cent open space.LivingTree spans 25 acres and will comprise ten towers of 23鈥�24 fl..
Next Story
Blue Water Logistics IPO opens May 27
Hyderabad-based Blue Water Logistics is launching its Rs 40.5 crore IPO on May 27, 2025, which will remain open for subscription until May 29. The price band has been set at Rs 132 to Rs 135 per share, with a lot size of 1,000 shares. This is a book-built issue entirely comprising a fresh issue of 30 lakh equity shares. The IPO will be listed on the NSE Emerge platform.Smart Horizon Capital Advisors is the sole book-running lead manager, while Maashitla Securities will act as the registrar. The anchor book will open on May 26, 2025. The IPO allocates 8,35,000 shares to anchor investors, 1,56,0..
