MUMBAI | September 9, 2026 — Adani Airports will raise about $1 billion (Rs 9,825 crore) from a consortium of global and domestic investors to expand airport infrastructure, develop airport-city projects and increase passenger-handling capacity across its portfolio. The transaction values Adani Airport Holdings Ltd (AAHL) at a pre-money equity valuation of around $18 billion.
The company said on Wednesday that Alpha Wave Global, Premji Invest, Temasek and funds managed by BlackRock will collectively acquire approximately 5.54% of AAHL after the completion of three investment tranches. AAHL and the investors have signed a Share Subscription Agreement and a Shareholders’ Agreement for the issuance of new equity shares.
The final tranche is expected to be completed by July 2027, subject to customary conditions precedent, including the receipt of applicable approvals, the company said. The fundraise is among the largest primary equity investments by financial institutions in India’s airport infrastructure sector, according to AAHL.
The proceeds will primarily be used to expand and modernise airport infrastructure across AAHL’s portfolio. The company also plans to develop integrated airport-city ecosystems and scale up passenger-facing and other non-aeronautical businesses, including activities located on the city side of airport facilities.
AAHL plans to develop around 22 million square feet of mixed-use projects in the first phase of its Adani Airport City developments around its airports. The company said the investments are expected to take the platform’s annual passenger-handling capacity to around 200 million.
Jeet Adani, Non-Executive Director, AAHL, described the investment as an important milestone for the airport platform. “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,” he said.
Arun Bansal, CEO of AAHL, said the company would continue building its capabilities as it expands its airport portfolio. He linked the planned city-side developments to economic activity in major urban centres, while saying the company aimed to scale AAHL into the world’s largest airports platform.
AAHL, a subsidiary of Adani Enterprises Ltd, currently manages eight airports across India and serves more than 23% of the country’s total passenger traffic. Its platform includes aeronautical operations, passenger-facing non-aeronautical businesses and city-side development.
The planned equity infusion follows Adani Enterprises’ Rs 15,000-crore qualified institutional placement in July, which the company described as the largest QIP by a non-financial corporate in India. The new investment will be completed in stages, with the final tranche scheduled for July 2027, subject to the required approvals and other conditions.
