Shares of Adani Enterprises Ltd. increased by nearly 5% on Wednesday following an announcement that its subsidiary, Adani Airport Holdings Ltd., entered into an agreement to raise approximately 98.25 billion rupees, or $1 billion. The funds will be provided by a group of global and domestic investment firms to support the expansion of airport infrastructure and related businesses.
The binding agreement was made with Alpha Wave Global, Premji Invest, Temasek, and funds managed by BlackRock. According to a company statement, the transaction values Adani Airport Holdings at approximately $18 billion on a pre-money basis.
The investment will be structured in three tranches of newly issued shares. The company reported that upon completion of the final tranche, which is targeted for July 2027, the investor group will collectively own an approximate 5.54% stake in the airport operator. The deal remains subject to customary conditions and regulatory approvals.
This fundraising follows a 150 billion rupee qualified institutional placement by the parent company, Adani Enterprises, in July.
In the company’s statement, Jeet Adani, a non-executive director at Adani Airport Holdings, described the investment as an “important milestone” for its airports platform. He added that the company plans to continue investing in infrastructure, city-side developments, and non-aeronautical businesses.
The company stated the proceeds will be used for several key objectives, including the expansion and modernization of its airport infrastructure. The funds will also support the development of “Adani Airport City” projects and help scale passenger-related and other non-aeronautical businesses, such as ground handling services.
Arun Bansal, CEO of Adani Airport Holdings, said the company aims to become the world’s largest airports platform, citing growth opportunities in India and rising consumer spending. The company projects the investments will increase its capacity to serve approximately 200 million passengers annually.
Adani Airport Holdings currently manages eight airports in India. According to the company, its operations account for over 23% of the country’s total passenger traffic.
