Shares of Adani Enterprises fell 3 per cent in Monday's trade after a media report suggested Adani Airport Holdings increased borrowing limit by Rs 2,500 crore. According to a Business Standard report, the Adani group increased the borrowing limit of its airport arm to Rs 16,500 crore from Rs 14,000 crore to expand its eight airports across the country. Adani Airport Holdings is a subsidiary of Adani Enterprises.
The offer by Vishvapradhan Commercial Private, AMG Media Networks and Adani Enterprises for an additional 26 per cent stake in NDTV would end today.
Adani Enterprises fell 2.83 per cent to a low of Rs 3810.25 on the BSE. The scrip fell 7 per cent from its record high of Rs 4,098 with this. On November 16 there was a 10 on the BSE.
The board of Adani Enterprises recently approved raising funds aggregating up to Rs 20,000 crore through a further public offering FPO. Adani Group said the passenger movement in Adani Airport Holdings was approximately 90 per cent pre-Covid, with a total of 16.3 million passengers. It said that the construction in Navi Mumbai was on schedule and was on schedule for completion in the year 2024.
We are very confident in our city side or community side development, which should start from 2025 -- 2026 and should become the major part of airport business by 2030 -- 2031. CFO Jugeshinder Singh said that our community-based airport businesses will be around 55 to 60 per cent of our airport Ebitda and non-aero businesses would be another 20 -- 25 per cent and aero business will only be 10 to 15 per cent of airport business.
He said his company was on track to have just over Rs. There were 2000 crores of Ebitda in the business and were likely to see improvements.
We are very confident that we are on track and investors will start seeing the results sometime between 2025 and 2026, as the business starts to come on line. The return of the business will be more than our cost of capital. When I say comfortably, the rate of returns is likely to be double of our businesses and we are very pleased with the work for the field has engaged and confident to deliver one of the best airport investment opportunities that aggressively works, and that is largely driven by our own execution capability and operational capability, he said.