NEW DELHI: India’s largest private airport operator – Adani Airport Holdings (AAHL) – has entered into binding agreements to raise Rs 9,825 crore (about $1 billion) of primary equity capital from a consortium of investors, comprising Alpha Wave Global, Premji Invest, Temasek and BlackRock managed funds. The transaction values AAHL at about $18 billion and is one of the largest primary equity investments from financial institutions in India’s airport infrastructure sector.AAHL and the investors have entered into a share subscription agreement and a shareholders’ agreement pursuant to which the investors will subscribe to new equity shares of AAHL in three tranches, with the final tranche expected to be completed by July 2027. Investors will collectively hold over 5.5% in AAHL. The latest transaction follows AEL’s successful Rs 15,000 crore QIP in July 2026.
The company said these proceeds will support three strategic priorities – expanding and modernising airport infrastructure across AAHL’s portfolio; accelerating the development of integrated Adani airport city ecosystems around its airports with development of about 2.2 crore square feet of mixed-use development planned in the first phase; and scaling up of passenger-facing and other non-aeronautical businesses, including its ground handling business.AAHL manages eight airports across India – Mumbai, Navi Mumbai, Ahmedabad, Jaipur, Lucknow, Guwahati, Mangaluru and Thiruvananthapuram – handling over 23% of India’s total passenger traffic. “These investments are expected to increase capacity to serve 20 crore passengers annually, deepen commercial monetisation, enhance passenger experience and further strengthen AAHL’s integrated airport ecosystem,” AAHL, a subsidiary of Adani Enterprises (AEL), said in a statement.AAHL non-executive director Jeet Adani said: “With the backing of these partners, we will continue to invest ahead of that growth, scaling our infrastructure, city-side developments and non-aeronautical businesses to build one of the world’s leading integrated airport platforms.”