Udanvat Leasing IFSC Ltd, a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZL), has approached IFSC Gift City to set up an aircraft leasing unit. Over the next five years, the company has said it will invest Rs 555 crore. The estimated Free on Board (FOB) value for the export of services over five years is projected at Rs 304 crore, and the funding will come from the promoter company in the form of a loan. The net foreign exchange outgo for the said proposal for the next five years would be Rs 250 crore, the company said. Adani-owned Udanvat will purchase the aircraft and rent them out, as per a report.
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