Ahmedabad, India – September 13, 2026 -- Adani Airport Holdings Limited (AAHL) has signed binding agreements to raise ₹9,825 crore (approximately $1 billion) in primary capital from a consortium of Alpha Wave Global, Premji Invest, Temasek and funds managed by BlackRock.
Investors value AAHL at an $18 billion pre-money equity valuation
The transaction marks one of the largest primary capital investments by financial institutions in India's airport infrastructure sector. AAHL, a subsidiary of Adani Enterprises Limited and one of India's largest private airport operators, will issue new common shares to investors across three tranches, with the final tranche expected to close by July 2027. Upon completion of all three tranches, the investor consortium will collectively hold approximately 5.54% of AAHL.
Proceeds target 200 million annual passenger capacity and Airport City development
The capital will fund infrastructure upgrades and capacity expansion across AAHL's airport portfolio, accelerate development of integrated "Adani Airport City" ecosystems spanning roughly 22 million square feet of mixed-use space in the first phase, and expand ground handling and other non-aviation business lines. The combined investments aim to lift passenger handling capacity to approximately 200 million annually while boosting commercial revenue streams.
Deal follows AEL's record $15,000 crore institutional placement in July 2026
The transaction comes after Adani Enterprises Limited completed a ₹15,000 crore qualified institutional placement in July 2026, India's largest such placement by a non-financial company. Jeet Adani, non-executive director of AAHL, said the partnership marks a key milestone in scaling the Adani Airports platform, noting India's aviation sector serves as a strong multiplier for national GDP growth.
Arun Bansal, CEO of AAHL, said the company aims to build the world's largest airport platform, citing growth opportunities across India, rising consumer purchasing power and momentum in urban development projects.
Legal and financial advisors include Cyril Amarchand Mangaldas and Jefferies India
Key advisors on the transaction included Cyril Amarchand Mangaldas, AZB & Partners, JSA Advocates and Solicitors, TT&A Advocates and Solicitors, Jefferies India Private Limited, SBI Capital Markets Limited and Ernst & Young LLP. The deal remains subject to customary closing conditions, including receipt of required regulatory approvals.