Adani Enterprises Limited, through its wholly owned subsidiary Adani Airport Holdings Limited (AAHL), has acquired 100% equity shares of SKYIWAVE Private Limited. The acquisition was completed on March 30, 2026, for a cash consideration of INR 3 crore, making SKYIWAVE a wholly owned subsidiary of AAHL and a step-down subsidiary of Adani Enterprises.
SKYIWAVE, incorporated in India and registered with the Registrar of Companies in Gujarat, operates in the Out of Home (OOH) advertising sector, specialising in hoardings and innovative media solutions. The company reported a turnover of Rs. 16.51 lakhs for the financial year 2024-25, with previous turnovers of Rs. 17.64 lakhs in FY23 and Rs. 15.00 lakhs in FY24.
The acquisition aligns with Adani Enterprises’ strategy to expand its operations in the OOH advertising sector. No related party transactions were involved in this acquisition, and it was conducted at arm’s length.
The acquisition does not require any governmental or regulatory approvals, and the transaction was completed on the same day the share purchase agreement was executed.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).