Adani Group Expands Airport Lounge Presence With Semolina Kitchens Stake Acquisition
Adani Airport Holdings Ltd., a wholly owned subsidiary of the Adani Group, has successfully acquired a 50.02% stake in Semolina Kitchens Pvt.
Adani Airport Holdings Ltd., a wholly owned subsidiary of the Adani Group, has successfully acquired a 50.02% stake in Semolina Kitchens Pvt., enhancing its footprint in the airport lounge and food service sector. The acquisition was completed on Oct. 14, 2024, as confirmed by the company on Oct. 15.
Semolina Kitchens, incorporated in June 2022, specialises in developing and operating food and beverage outlets, including lounges, at airports. The company reported a turnover of Rs 46.24 crore in fiscal 2024, a significant increase from Rs 4.88 crore in the previous year, indicating rapid growth in its operations.
This acquisition aligns with Adani’s plans to expand its offerings in the aviation sector, particularly in enhancing passenger experience through premium lounge services. The move comes as part of the group’s broader strategy to establish itself as a key player in airport infrastructure and hospitality.
The acquisition was made at a cash consideration of Rs 0.05 crore and does not involve any related party transactions, ensuring the deal adheres to market regulations.
AAHL has eight airports in its management and development portfolio, making it is India's largest airport infrastructure company, accounting for 25% of passenger footfalls and 33% of India's air cargo traffic, as per the Adani Group website.
Adani Enterprises Share Price
Shares of Adani Enterprises rose as much as 0.87% to Rs 3,128 apiece. They pared gains to trade 0.35% higher at Rs 3,111.90 apiece as of 02:08 p.m., compared to a 0.34% decline in the NSE Nifty 50.
The stock has risen 28.10% in the last 12 months. Total traded volume so far in the day stood at 0.19 times its 30-day average. The relative strength index was at 52.
All three analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus analysts' price target implies an upside of 35.9%.
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