Adani Airports to raise $ 1 b from global investors

Friday, 11 September 2026 06:56 - - {{hitsCtrl.values.hits}}

Adani Airport Holdings Ltd., (AAHL) has entered into binding agreements to raise INR 98.25 billion, or about $ 1 billion, of primary equity capital from a consortium of domestic and global investors comprising Alpha Wave Global, Premji Invest, Temasek, and BlackRock-managed funds.

The transaction values AAHL, a subsidiary of Adani Enterprises Ltd., (AEL) and one of India’s largest private airport operators, at a pre-money equity valuation of about $ 18 billion, marking one of the largest primary equity investments from financial institutions in India’s airport infrastructure sector.

AAHL and the investors have entered into a Share Subscription Agreement and a Shareholders’ Agreement under which the investors will subscribe to new equity shares in three tranches, with the final tranche expected to complete by July 2027. Once all three are done, the investors will collectively hold approximately 5.54% in AAHL.

The proceeds will support three priorities: expanding and modernising airport infrastructure across AAHL’s portfolio; accelerating the integrated Adani Airport City ecosystem, with about 22 million square feet of mixed-use development planned in the first phase; and scaling passenger-facing and other non-aeronautical businesses, including ground handling. AAHL said the investments are expected to lift capacity to serve about 200 million passengers annually, deepen commercial monetisation and strengthen its integrated airport ecosystem.

The deal follows AEL’s INR 150 billion qualified institutional placement in July 2026, India’s largest Qualified Institutional Placement (QIP) by a non-financial corporate, extending the Adani portfolio’s access to long-term domestic and global institutional capital.

AAHL Non-Executive Director Jeet Adani said the partnership marked an important milestone in building out the Adani Airports platform. He said India’s aviation sector was one of the most powerful multipliers of the country’s GDP growth, with every expansion in air connectivity catalysing trade, tourism, employment, and regional development beyond the airport gate.

AAHL CEO Arun Bansal said the company would continue building capabilities to scale AAHL into the world’s largest airports platform, citing growth opportunities across India, rising consumer spending power, and the momentum of its city-side developments as economic catalysts in major urban centres.

AAHL manages eight airports across India, serving more than 23% of the country’s total passenger traffic. Advisers to the transaction included Cyril Amarchand Mangaldas, AZB & Partners, JSA Advocates and Solicitors, TT&A Advocates and Solicitors, Jefferies India Ltd., SBI Capital Markets Ltd., and Ernst & Young LLP. The transaction remains subject to customary conditions precedent, including applicable approvals.