Adani Airports to raise $1 billion from investors for 5.54% stake

Adani Airport Holdings, the airports arm of Adani Enterprises, has inked binding deals to raise around $1 billion from a consortium of international and local investors, offering the company new funds for growth and infrastructure development.

The investment by Alpha Wave Global, Premji Invest, Temasek and funds managed by BlackRock will raise the investors’ combined stake to around 5.54% in Adani Airport Holdings after the completion of the transaction. The deal values the airport operator at around $18 billion pre-investment.

The company said the deal will be done in three tranches, with the last tranche expected by July 2027. Adani Enterprises will retain its majority stake.

The funds will be used to upgrade and modernise airports in the company’s portfolio, develop commercial infrastructure linked to airports and grow businesses such as ground handling and passenger services. The company expects the investment will boost its annual passenger handling capacity to around 200 million.

Adani Airport Holdings operates eight airports, including Mumbai International Airport, and accounts for about a quarter of India’s passenger traffic and a third of its air cargo volumes, Reuters reported.

Adani Enterprises shares gained about 3% after the announcement, extending a recent run of gains.