Adani Ports and Special Economic Zone Ltd (APSEZL) has expanded its portfolio by incorporating a wholly-owned aircraft leasing unit, Udanvat Leasing IFSC Ltd, signaling the group’s foray into the aviation industry. Udanvat Leasing IFSC Ltd, the newly established subsidiary, has an authorised and paid-up share capital of Rs 2.5 crore. The primary objective of this venture is to engage in aircraft ownership and leasing activities, adding a new dimension to the Adani Group’s diverse business operations.
This strategic move follows a broader trend in the aviation sector, with several prominent players venturing into aircraft leasing, often utilizing International Financial Services Centre (IFSC) locations for their operations. The establishment of this aircraft leasing unit in Gujarat’s International Financial Services Centre (IFSC) offers notable advantages. Aircraft leasing firms operating from this IFSC hub, located within Gujarat International Finance Tec-City (GIFT-City), are entitled to specific exemptions and benefits, creating a conducive environment for the growth of such businesses.