Adani Enterprises, on 4th of May came to say that one of its subsidiaries, Mumbai International Airport has successfully received an investment worth $750 million USD in a private round that was led by Apollo. They went to say that is one of the biggest investments ever received by a private Indian company.
Adani Enterprises oversees the daily operations of one of India’s largest and busiest airports, Chatrapathi Shivaji International Airport. As the investment went through, the shares of the company slumped down by just under 1%, but after this massive injection funds, it is expected to increase by a large margin.
The company’s spokespeople also went on to say how they would utilize the funds by explaining that it would be used to put back into shorter and smaller loans and also to expand and widen their total capital.
The importance and relevance of the international airport situated in Mumbai cannot be understated. Mumbai is widely regarded to be the economic, financial, logistical, and industrial hub of the country. It is the most populous city in the state and country as a whole. Over 20 million people call this bustling city their home as it makes the top 10 most populous cities in the world.
This makes the airport one of the most important structures in the country and it is paramount that it always functions to the highest efficiency. The investors said in an announcement that in spite of the unpredictability of the market currently, it shows great trust and courage to pledge such a huge amount of money as an investment.
The firm even plans to transform the airport into just a hub for transport, but even a place for leisure, shopping, amusement with many businesses in them making it into an entrepreneurial ecosystem which will in turn attract so much more people to spend more time at the airport similar to Singapore’s Changi International Airport and United Arab Emirates’ Dubai International Airport.
Chhatrapati Shivaji Maharaj International Airport, is currently the busiest single runway airport in the entire globe. It is also the busiest airport in all of India and the second largest, just smaller to Delhi’s Indira Gandhi International Airport. Every year, around 20 million passengers go through the airport for both domestic and international travel. The airport even employs close to 15,000 people and that number is set to go up once the expansion project starts.