Adani Group, India’s largest private conglomerate, has announced plans to demerge more of its businesses in order to unlock value and expand its portfolio.
The company has dismissed concerns about its debt levels, saying it is well within the industry average.
Adani Group’s Chairman, Gautam Adani, said the demerger would benefit shareholders as it would allow more focused investments in each business. He also said that the group would look at listing some of the businesses separately.
Adani has already demerged its renewable energy business and its logistics and port business. It plans to further demerge its gas retail, gas distribution and agri-logistics businesses.
The group also plans to invest in new businesses, including data centres, digital infrastructure, and retail. It is also looking to expand its presence in the financial services sector.
Adani Group has a presence in multiple sectors, including resources, energy, logistics, agri business, and financial services. The group has total assets worth $45 billion.