Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited (AEL), signed binding agreements to raise Rs 9,825 crore (approximately USD 1 billion) from a consortium comprising Alpha Wave Global, Premji Invest, Temasek, and BlackRock managed funds. The transaction values AAHL at a pre-money equity valuation of approximately 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 final tranche closes by July 2027, leaving the consortium with a collective holding of roughly 5.54 per cent in AAHL.

The operator deploys the proceeds across three main operational areas: expanding and modernising its existing airport infrastructure to handle nearly 200 million passengers annually, rolling out city-side real estate, and scaling its ground handling and non-aeronautical operations. 

In the first phase of the Adani Airport City project, the company undertakes around 22 million square feet of mixed-use development.