Adani Airport Holdings Secures $1 Billion Deal as Investors Value Unit at $18 Billion
Updated
Updated · CNBC · Sep 9
Adani Airport Holdings Secures $1 Billion Deal as Investors Value Unit at $18 Billion
3 articles · Updated · CNBC · Sep 9
Summary
98.25 billion rupees in new funding will flow into Adani Airport Holdings from Alpha Wave Global, Premji Invest, Temasek and BlackRock-managed funds, lifting Adani Enterprises shares nearly 5% on Wednesday.
The binding deal values the airport unit at about $18 billion pre-money, with investors subscribing in three tranches to own roughly 5.54% after the final close expected by July 2027.
The capital is earmarked for airport expansion and modernization, Airport City projects and non-aeronautical businesses such as ground handling, with Adani targeting capacity for about 200 million passengers a year.
Adani Airport Holdings already manages eight Indian airports and handles more than 23% of the country's passenger traffic, underscoring its push to build what management says could become the world's largest airports platform.
The fundraising still needs regulatory and customary approvals and follows Adani Enterprises' 150 billion rupee qualified institutional placement in July.