Adani Enterprises on Wednesday announced that its subsidiary and private airport operator, Adani Airports Holdings Ltd (AAHL), has raised $750 million via External Commercial Borrowings (ECB) from a consortium of international banks. The transaction, it added, was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank.
In a regulatory filing, the company said that the proceeds from the fundraise will be used to refinance existing debt, invest in infrastructure upgrades, and capacity expansion across the six airports viz. Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. Further, it will also use the capital to scale the non-aeronautical businesses, including Retail, F&B, Duty Free and services across the airport network.
AAHL has served 94 million passengers in FY25 with an overall capacity of 110 million passengers. Going forward, it aims to triple the capacity to 300 million passengers per annum by 2040 through phased development.
As part of this roadmap, the Navi Mumbai International Airport is expected to be operational shortly, adding 20 million passengers in the first phase, with capacity expanding up to 90 million annually in a phased manner, significantly boosting the Mumbai region’s aviation infrastructure.
Arun Bansal, CEO of AAHL, said, “AAHL is well on its path to deliver exceptional customer experiences, leveraging technology for seamless operations, and prioritizing sustainability and community engagement across its airport network.”
The company informed the exchanges that Latham and Watkins LLP and Linklaters LLP acted as English Law counsel to the transaction, and Cyril Amarchand Mangaldass and TT&A acted as Indian law counsel to the transaction.