DHAKA : Global investors have delivered a strong vote of
confidence in India’s aviation sector. Adani Airport Holdings Limited (AAHL), a
subsidiary of Adani Enterprises Limited, has signed binding agreements to raise
nearly $1 billion (Tk 12,674.25 crore) from a consortium comprising BlackRock,
Temasek, Premji Invest and Alpha Wave Global — a deal that values the company
at approximately $18 billion, a press release said.
It marks one of the largest primary equity investments to
date in India’s airport infrastructure sector.
Notably, Adani Group, through its affiliated entities,
also supplies around 1,500 megawatts of electricity to Bangladesh, a
contribution that has played a significant role in easing the country’s
load-shedding.
According to aviation analysts, the investment reflects
strong institutional confidence in AAHL’s scale and long-term growth prospects,
coming at a time when India’s aviation sector is entering a sustained phase of
passenger growth and infrastructure expansion.
Under the agreement, investors will subscribe to new
shares in three tranches, with the final tranche expected to close by July
2027. Once all tranches are completed, the consortium will collectively hold
approximately 5.54 percent of AAHL.
The proceeds will be deployed across three strategic
areas: expanding and modernising airport infrastructure; developing the first
phase of the integrated “Adani Airport City” ecosystem, spanning about 22
million square feet of mixed-use development; and scaling up passenger-facing
businesses, including ground handling operations. The goal is to build capacity
to serve around 200 million passengers annually while enhancing the overall
passenger experience.
The transaction follows Adani Enterprises’ Tk 19,350 crore
qualified institutional placement (QIP) completed in July — the largest QIP by
a non-financial company in India’s history.
“This partnership marks an important milestone in building
the Adani Airports platform,” said Jeet Adani, Non-Executive Director of AAHL. “India’s
aviation sector is one of the most powerful multipliers of the country’s GDP
growth — every expansion in air connectivity drives trade, tourism, employment
and regional development.”
CEO Arun Bansal said the company is working to scale into
the world’s largest airports platform, adding that India’s growth
opportunities, rising consumer spending power and the momentum of city-side
developments are reinforcing that ambition.
Legal and financial advisors on the transaction included
Cyril AmarchandMangaldas, AZB & Partners, JSA Advocates, TT&A
Advocates, Jefferies India, SBI Capital Markets and Ernst & Young. The deal
remains subject to customary conditions, including regulatory approvals.
AAHL operates eight airports across India, handling more than 23 percent of the country’s total passenger traffic, making it one of the largest private airport operators in the country.
