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Adani Enterprises Unit Adani Airport Holdings to Raise INR98.3 Billion

MT Newswires Live09-09 13:42

Adani Airport Holdings, a subsidiary of Adani Enterprises (NSE:ADANIENT, BOM:512599), has agreed to raise 98.3 billion rupees (nearly $1 billion) in primary equity from Alpha Wave Global, Premji Invest, Temasek and BlackRock-managed funds.

The investment will be made in three tranches, with the final tranche expected by July 2027, according to a Wednesday filing on Indian bourses. The investors will collectively hold about 5.54% of the airport operator upon completion.

The proceeds will be used to expand and modernize airports, develop airport-city projects and scale passenger-facing and other non-aeronautical businesses. The transaction is subject to customary conditions and regulatory approvals.

Adani Enterprises jumped nearly 6% in recent trade.

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