Adani Group is seeking a loan of ~INR 75bn ($1bn) to refinance Mumbai International Airport Ltd’s existing debt of INR 80bn ($1.07bn). Adani Airports had entered the airport business in 2019, and had revealed plans last year to acquire controlling interest in the Mumbai Airports of Mumbai and Navi Mumbai from GVK Airport Developers Ltd, owner of ~50.5% of the Mumbai airport, and to add these to its existing portfolio. The terms of agreement for the deal included acquisition of debt by Adani from various GVK lenders and also infusion of funds by Adani into Mumbai International Airport Limited to provide liquidity support. The company had also completed the purchase of 23.5% stake in the airport by buying out two South African companies. Currently, the group is in discussions with Barclays Plc and JPMorgan Chase to raise the funds for Adani Airport Holding Ltd as per sources. Economic Times had revealed in June that Adani Airports Holding also plans an IPO for INR 255bn – INR 292bn ($3.4bn-$3.9bn) as a part of a plan to separate the group’s airport business from the holding company.
 
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