Adani Enterprises Limited, through its wholly owned subsidiary Adani Airport Holdings Limited (AAHL), acquired 100 per cent equity shares of SKYIWAVE Private Limited for a cash consideration of Rs 30 million (mn). The acquisition was completed on 30 March 2026 and makes SKYIWAVE a wholly owned subsidiary of AAHL and a step?down subsidiary of Adani Enterprises. The transaction was executed at arm's length with no related party involvement.

SKYIWAVE is incorporated in India and registered with the Registrar of Companies in Gujarat and operates in the Out of Home (OOH) advertising sector, specialising in hoardings and innovative media solutions. The company reported a turnover of Rs 1.651 mn for the financial year 2024-25, compared with Rs 1.764 mn in FY23 and Rs 1.5 mn in FY24. These figures reflect the small scale of the business relative to the acquirer.

The acquisition aligns with Adani Enterprises' strategy to expand operations in the OOH advertising sector and to build capabilities in media solutions around its airport holdings. No governmental or regulatory approvals were required for the purchase and the share purchase agreement and closing were completed on the same day. The company stated that the transaction was conducted at market terms and intends to integrate SKYIWAVE into its broader advertising portfolio.

The transaction was disclosed through a regulatory filing to the National Stock Exchange of India and forms part of ongoing corporate activity by Adani Enterprises. AAHL will now consolidate SKYIWAVE's financials as part of its subsidiary structure and monitor performance against group objectives. The acquisition adds a specialised OOH asset to the group while involving limited immediate financial exposure. No further details were disclosed.