Adani Airports to raise $1 billion from Global Investors

India, Sept. 9 -- Adani Airport Holdings Ltd (AAHL) has signed binding agreements to raise Rs 9,825 crore (around $1 billion) in primary equity from a consortium comprising Alpha Wave Global, Premji Invest, Temasek and BlackRock-managed funds.

The investment values AAHL at a pre-money equity valuation of about $18 billion, with the investors expected to collectively hold around 5.54% after the three-tranche transaction is completed by July 2027.

The funds will be used to expand and modernise airports, develop Adani Airport City ecosystems and scale non-aeronautical businesses, including ground handling. AAHL plans to develop around 22 million sq ft of mixed-use projects in the first phase and increase its network's annual passenger-handli...