Adani Enterprises Subsidiary Acquires SKYIWAVE in Cash Deal
Adani Airport Holdings Limited (AAHL), a wholly-owned subsidiary of Adani Enterprises Limited, completed the acquisition of 100% equity shares in SKYIWAVE Private Limited on March 30, 2026. The acquisition, facilitated through a Share Purchase Agreement, marks SKYIWAVE as a wholly-owned subsidiary of AAHL and a step-down subsidiary of Adani Enterprises.The acquisition, valued at INR 3 crore, was conducted at an arm's length and does not involve any related party transactions. SKYIWAVE operates in the Out of Home (OOH) advertising sector, providing hoardings and innovative media solutions.
SKYIWAVE was incorporated in India on January 22, 2016. Its financial performance over the past three fiscal years is detailed below:
| Financial Year | Turnover (Rs. lakhs) |
|---|---|
| FY23 | 17.64 |
| FY24 | 15.00 |
| FY25 | 16.51 |
Adani Enterprises Limited's Company Secretary & Joint President (Legal), Jatin Jalundhwala, confirmed the transaction.
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