Adani to raise $1 billion from global investors to expand airports business

Mumbai, Sept. 9 -- Adani Airport Holdings Limited (AAHL) officially announced here on Wednesday that it has entered into binding agreements to raise Rs 9,825 crore (USD 1 billion) of primary equity capital from a consortium of investors comprising Alpha Wave Global, Premji Invest, Temasek and BlackRock managed funds, in order to expand its airports business.

The transaction values AAHL at a pre-money equity valuation of USD 18 billion and represents one of the largest primary equity investments from financial institutions in India's airport infrastructure sector, according to the statement.

AAHL and the investors have entered into a Share Subscription Agreement and a Shareholders' Agreement according to which the investors will subscribe ...