Key facts
- Adani Airport Holdings is raising ₹9,825 crore ($1.04 billion) in primary equity capital.
- Investors include Alpha Wave Global, Premji Invest, Temasek, and BlackRock-managed funds.
- The deal values Adani Airport Holdings at a pre-money equity valuation of approximately $18 billion.
- Upon completion, investors will hold about 5.54% of Adani Airport Holdings.
- Funds will be used for airport upgrades, land development, and expanding passenger-facing businesses.
Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited, announced on Wednesday it has secured binding agreements to raise approximately ₹9,825 crore, or about $1.04 billion, in primary equity capital. The investment comes from a consortium of investors including Alpha Wave Global, Premji Invest, Temasek, and funds managed by BlackRock.
The transaction values AAHL at a pre-money equity valuation of around $18 billion. Investors will subscribe to new equity shares in three tranches, with the final tranche expected by July 2027. Upon completion, these investors will collectively hold approximately 5.54% of AAHL.
The capital raised is earmarked for expanding and modernizing airport infrastructure across Adani's portfolio, developing integrated 'Adani Airport City' ecosystems, and scaling passenger-facing and non-aeronautical businesses, including ground handling. The company aims to increase its annual passenger capacity to serve around 200 million passengers.
Jeet Adani, non-executive director at AAHL, stated that the partnership marks a significant milestone in building the Adani Airports platform, and the company will continue investing in infrastructure and city-side developments. Arun Bansal, CEO of AAHL, expressed the company's commitment to scaling its business into the world's largest airports platform.
This funding follows Adani Enterprises' ₹15,000 crore qualified institutional placement (QIP) in July 2026. The transaction is subject to customary conditions precedent and regulatory approvals. AAHL currently manages eight airports in India, handling over 23% of the country's passenger traffic.