Adani Subsidiary Acquires SKYIWAVE for Rs 30 mn
AVIATION & AIRPORTS

Adani Subsidiary Acquires SKYIWAVE for Rs 30 mn

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.

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.

Related Stories

Gold Stories

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Next Story
Technology

ideaForge Q1 FY27 Revenue at Rs 680.6 million; EBITDA Turns Positive

ideaForge Technology Limited reported revenue from operations of Rs 68.6 crore in Q1 FY27, while executing more than 20% of its opening order book for the financial year. The company also reported positive EBITDA during the quarter.ideaForge entered FY27 with an order book of over Rs 300 crore and is targeting delivery of the opening order book by Q3, in line with customer timelines. The company said global supply chain disruptions and component availability continue to pose challenges.During the quarter, ideaForge completed a Rs 500 crore Qualified Institutional Placement (QIP), with particip..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement