Adani Airports Holdings Ltd has entered into binding agreements with domestic and global institutional investors to raise Rs 9,825 crore (about US$1 billion) in equity capital. The investment is expected to strengthen the company’s long-term capital base and support its plans for airport expansion, modernisation and development around its airport assets.
The investment is being made by Alpha Wave Global, Premji Invest, Temasek and funds managed by BlackRock, among other investors. Following the transaction, Adani Airports Holdings’ pre-money valuation has been set at about US$18 billion.
The investment will be completed in three tranches, with the final tranche expected to be completed by July 2027. Once all three tranches are completed, the participating investors are expected to hold an aggregate 5.54 per cent stake in Adani Airports Holdings Ltd..
Focus on airport expansion and modernisation
According to the company, a major portion of the capital will be directed towards expanding and modernising its airports. The company aims to increase the combined passenger-handling capacity of its airport network to approximately 200 million passengers annually.
The investment is also expected to support the expansion of businesses linked to airports beyond core aviation operations, including ground handling and other non-aeronautical businesses.
Airport City development
Adani Airports also plans to accelerate development around its airport infrastructure through the Adani Airport City initiative.
The first phase envisages approximately 22 million sq ft of mixed-use development in and around airport areas. The broader plan includes improving passenger amenities, expanding commercial activities at airports and developing integrated ecosystems around airport infrastructure.
The company said the strategy is aimed at responding to rising demand for air travel in India while creating opportunities linked to connectivity, commercial development and airport-related services.
Jeet Adani highlights wider aviation growth
Jeet Adani, Non-Executive Director, Adani Airports Holdings Ltd, said India’s aviation sector was expanding rapidly and that improved air connectivity could contribute to trade, tourism, employment and regional development.
He said the company intended to continue investing in airport infrastructure, city-side development and non-aeronautical businesses in response to this growth.
Arun Bansal, CEO, Adani Airports Holdings Ltd, said increasing demand for air travel, rising consumer purchasing power and development around airports in major cities were creating opportunities for expansion in the airport business.
Follows Adani Enterprises’ Rs 15,000 crore QIP
The airport investment comes after Adani Enterprises Ltd raised Rs 15,000 crore through a Qualified Institutional Placement (QIP) in July 2026. According to the information provided by the company, it was the largest QIP by a non-financial company in India.
Together, the two capital-raising transactions indicate continued access to institutional capital for businesses within the Adani Group. However, the airport transaction and the Adani Enterprises QIP are separate fundraising exercises involving different entities.
The advisers to the Adani Airports transaction included Cyril Amarchand Mangaldas, AZB & Partners, JSA Advocates & Solicitors, TT&A Advocates & Solicitors, Jefferies India, SBI Capital Markets and Ernst & Young.
