Adani Group’s airport business is set to raise about $1 billion from a group of global and domestic investors, including Singapore’s Temasek and funds managed by BlackRock, as it steps up expansion of its airport network.
Adani Airport Holdings (AAHL) will issue fresh shares to the investors, who will collectively hold up to 5.54% of the company after the deal is completed. The transaction values the airport operator at about $18 billion before the new investment, according to a company statement.
The investment group also includes Alpha Wave Global and Premji Invest. The shares will be issued in three tranches, with the final tranche expected to be completed by July 2027.
Adani said the new capital will be used to expand and modernise its airports, develop airport-linked commercial infrastructure and grow businesses such as ground handling and passenger services.
AAHL currently operates eight airports, including Mumbai International Airport, and handles about a quarter of India’s passenger traffic and around a third of its air cargo. The company expects the investment to help increase its annual passenger-handling capacity to about 200 million.
“This partnership marks an important milestone in building out the Adani Airports platform,” Jeet Adani, a non-executive director of AAHL, said in a statement.
Chief Executive Arun Bansal said the company wants to build AAHL into a leading global airport platform, citing India’s growing aviation market, rising consumer spending and development around major cities.
The fundraise comes as India’s aviation industry faces growing pressure from rapid passenger growth. Airlines including Air India and IndiGo have recently faced regulatory and safety challenges, while experts have warned that the country’s airport and aviation infrastructure needs to expand to keep pace with demand.
The investment also comes shortly after Adani Group founder Gautam Adani resolved US legal probes, adding to signs that major global investors are returning to the conglomerate as it resumes its expansion plans.
