Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited (AEL), has signed binding agreements to raise Rs 98.25 billion (approximately $1 billion) in primary equity from a consortium comprising Alpha Wave Global, Premji Invest, Temasek, and funds managed by BlackRock.
The investment values AAHL at a pre-money equity valuation of around $18 billion and is expected to be one of the largest institutional primary equity investments in India’s airport infrastructure sector.
The capital will be raised through three tranches, with the final tranche expected to be completed by July 2027. Upon completion, the investors will collectively own approximately 5.54 per cent of AAHL. The funds will be used to modernise and expand airport infrastructure, develop integrated Adani Airport City ecosystems, and scale passenger-focused and non-aeronautical businesses.
These initiatives are expected to support capacity for nearly 200 million passengers per annum, improve commercial monetisation, enhance passenger experience, and strengthen AAHL’s integrated airport ecosystem.