Adani Airport Holdings Limited (AAHL), part of Adani Enterprises Limited (AEL), has secured binding agreements to raise Rs 9,825 crore, equivalent to approximately USD 1 billion. The funding comes from a consortium that includes Alpha Wave Global, Premji Invest, Temasek, and funds managed by BlackRock. This transaction places AAHL at a pre-money equity valuation of around USD 18 billion.
The primary equity infusion marks one of the largest financial institution investments in India’s airport infrastructure sector. Under the Share Subscription Agreement and Shareholders’ Agreement, the investor group subscribes to new equity shares across three tranches. The key advisors to the transaction were 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. (Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
The final tranche closes by July 2027, leaving the consortium with a collective holding of roughly 5.54 per cent in AAHL. In the first phase of the Adani Airport City project, the company undertakes around 22 million square feet of mixed-use development.
