Announcement

Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited, entered into binding Share Subscription and Shareholders' Agreements to raise ₹9,825 crore (approximately USD 1 billion) of primary equity from a consortium comprising Alpha Wave Global, Premji Invest, Temasek and BlackRock‑managed funds. The equity will be issued in three tranches, with the final tranche expected to close by July 2027. Upon completion, the investors will collectively own about 5.54 % of AAHL.

Valuation

The transaction values AAHL at a pre‑money equity valuation of roughly USD 18 billion, establishing a significant external institutional benchmark for the airport platform.

Use of Proceeds

The capital will be deployed to:

  • Modernise and expand airport infrastructure across AAHL’s portfolio, targeting capacity to serve around 200 million passengers annually;
  • Develop the first phase of an integrated Adani Airport City, comprising approximately 22 million sq ft of mixed‑use development;
  • Scale passenger‑facing and other non‑aeronautical businesses, including ground‑handling operations.

Context

The fundraising follows Adani Enterprises’ qualified institutional placement (QIP) of ₹15,000 crore in July 2026, which was the largest QIP by a non‑financial corporate in India, underscoring continued access to long‑term domestic and global institutional capital.

Statements

Jeet Adani, Non‑Executive Director of AAHL, said the partnership marks a milestone for building the airport platform and will help catalyse trade, tourism and regional development. Arun Bansal, CEO of AAHL, highlighted the ambition to scale the platform into the world’s largest airports network, driven by India’s consumer spending power and city‑side development opportunities.

Advisors

Legal and financial advisors to the transaction include Cyril Amarchand Mangaldas, AZB & Partners, JSA Advocates and Solicitors, TT&A Advocates and Solicitors, Jefferies India Private Limited, SBI Capital Markets Limited and Ernst & Young LLP. The deal is subject to customary conditions precedent, including receipt of required approvals.