Adani incorporates Udanvat aircraft leasing unit

Adani Ports and Special Economic Zone Ltd (APSEZL) has incorporated Udanvat Leasing IFSC Ltd, which is a wholly-owned aircraft leasing unit with an authorised and paid-up share capital of Rs 2.5 crore, according to a regulatory filing by Adani Ports. Udanvat has been incorporated into the Gautam Adani-controlled company to own and lease aircraft. Adani Ports will hold a 100 per cent stake in the firm. The company will divide the amount into 25,00,000 equity shares of Rs 10 each. Udanvat Leasing IFSC has been incorporated in Gujarat International Finance Tec-City (GIFT) city and is yet to commence its operations. The Adani Group has been trying to venture into the aviation industry of late and had also incorporated Adani Aviation Fuels Limited in September 2022, as per a report