Adani Airport Holdings raises $1bn in equity from investor consortium

Adani Airport Holdings Limited has signed binding agreements to raise around US$1bn in primary equity capital, according to the company. The investors are a consortium made up of Alpha Wave Global, Premji Invest, Temasek and BlackRock managed funds.

The deal puts a pre-money equity valuation of about US$18bn on the airport operator. It is described as one of the largest primary equity investments by financial institutions in India's airport infrastructure sector.

Under the share subscription agreement and a shareholders' agreement, the investors will subscribe to new equity shares in three tranches. The final tranche is expected to be completed by July 2027.