Adani Airport Holdings Ltd (AAHL) is set to raise about $1 billion (Rs 9,825 crore) in primary equity from a consortium of leading global and domestic investors, including Alpha Wave Global, Temasek, Premji Invest and funds managed by BlackRock.
The fundraising values AAHL at around $18 billion before the investment and ranks among the largest primary equity investments by financial institutions in India’s airport infrastructure sector.
The investors have signed binding agreements to subscribe to new equity shares in three tranches, with the final tranche expected to be completed by July 2027. Once all three tranches are completed, the consortium will collectively hold around 5.54% of AAHL.
The fresh capital will be used to expand and modernise airport infrastructure, develop integrated airport-city ecosystems and scale passenger-facing and non-aeronautical businesses, including ground handling.
As part of its airport-city development strategy, AAHL plans to develop around 22 million sq ft of mixed-use projects in the first phase. The investments are expected to support the platform’s ability to serve around 200 million passengers annually, while also increasing commercial revenues and passenger services.
AAHL CEO Arun Bansal said the company aims to scale the business into one of the world’s largest airport platforms, driven by India’s growing aviation market, rising consumer spending and the expansion of city-side developments.
The transaction comes soon after Adani Enterprises raised Rs 15,000 crore through a qualified institutional placement in July, highlighting continued institutional investor interest in the group.
AAHL, a subsidiary of Adani Enterprises, currently operates eight airports in India and says it handles more than 23% of the country’s total passenger traffic. Its operations span airport management, passenger-focused commercial businesses and airport-city development.
The transaction remains subject to customary conditions, including applicable regulatory approvals.
The investment comes at a time when India’s aviation sector is entering a major expansion phase, with rising passenger demand, new airport capacity and increasing opportunities for airport-linked commercial development.
