Adani Airport Holdings (AAHL) has signed binding agreements to raise Rs 9,825 crore, or roughly $1 billion, in fresh equity from a group of domestic and global investors. The deal values the airports arm at a pre-money valuation of about $18 billion and marks one of the largest primary equity investments in India’s airport infrastructure sector, as per the company’s filing with the exchanges.
Temasek, BlackRock, Premji Invest and Alpha Wave Global invest in Adani Airports
The investor group includes Alpha Wave Global, Premji Invest, Temasek and funds managed by BlackRock. AAHL, a subsidiary of Adani Enterprises, is one of India’s largest private airport operators. It runs eight airports and accounts for more than 23% of the country’s total passenger traffic.
The company has entered into a Share Subscription Agreement and a Shareholders’ Agreement with the investors. Under these agreements, the investors will subscribe to new equity shares of AAHL in three tranches, as per the filing. The final tranche is expected to close by July 2027. Once all three are complete, the investor group will together hold about 5.54% in AAHL.
Adani Airports to use Rs 9,825 crore fundraise for airport expansion, Airport City and non-aeronautical businesses
The company said the proceeds will go towards three areas. The first is expanding and modernising airport infrastructure across its portfolio. The second is scaling up Adani Airport City, an integrated township development planned around its airports. About 22 million square feet of mixed-use development is planned in the first phase. The third is growing non-aeronautical businesses, including ground handling.
AAHL said these investments are meant to lift capacity to serve about 200 million passengers a year. The company also expects the spending to deepen commercial revenue and improve the passenger experience across its airports.
Adani Airports fundraise follows Adani Enterprises’ Rs 15,000 crore QIP in July 2026
The equity raise comes soon after Adani Enterprises completed a Rs 15,000 crore qualified institutional placement in July 2026. That was described as the largest QIP by a non-financial corporate in India.
“This partnership marks an important milestone in building out the Adani Airports platform, and we are privileged to have such marquee, long-term investors alongside us on this journey. 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,” said Jeet Adani, Non-Executive Director, Adani Airport Holdings.
Cyril Amarchand Mangaldas, AZB & Partners, JSA Advocates and Solicitors and TT&A Advocates and Solicitors advised on the legal side of the transaction. Jefferies India, SBI Capital Markets and Ernst & Young also worked as advisors. The company said the deal remains subject to customary closing conditions, including regulatory approvals.
About Adani Enterprises
Adani Enterprises is the flagship company of the Adani Group. Over the years, it has built and scaled several businesses that later became independent listed entities, including Adani Ports and Special Economic Zone, Adani Energy Solutions, Adani Power, Adani Green Energy and Adani Total Gas. Its current portfolio of emerging businesses includes airports, roads, data centres, green hydrogen, copper and other industrial sectors.
Adani Enterprises share price today
Adani Enterprises’ share price has been trading up 2.57% in early trade. The company’s share price has gained 10.33% in the last 1 year.