Adani Enterprises stock surges 4%: Airport arm to raise ₹9,825 crore from Alpha Wave, Premji Invest, Temasek

Adani Enterprises shares traded with notable gains in the early trade on Wednesday, September 9, as Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited (AEL) and one of India's largest private airport operators, has entered into binding agreements to raise ₹9,825 crore (nearly $1 billion) of primary equity capital from a consortium of investors.

It comprises Alpha Wave Global, Premji Invest, Temasek and BlackRock managed funds. The transaction values AAHL at a pre-money equity valuation of nearly $18 billion and represents one of the largest primary equity investments from financial institutions in India’s airport infrastructure sector.

The press release said the participation of a consortium of long-term domestic and global investors represents a significant institutional endorsement of AAHL’s scale, operating capabilities and long-term growth potential. The investment brings long-duration institutional capital into the business at a time when India’s aviation sector is entering a sustained phase of passenger growth, capacity expansion and infrastructure investment.

"AAHL and the investors have entered into a Share Subscription Agreement and a Shareholders’ Agreement pursuant to which the investors will subscribe to new equity shares of AAHL in three tranches, with the final tranche expected to be completed by July 2027. Upon completion of all three tranches, the investors will collectively hold approximately 5.54% in AAHL," the company said.

The stock jumped as much as 4.19% to ₹3,077.10 on the NSE.

Proceeds usage

The proceeds will support three strategic priorities: expanding and modernising airport infrastructure across AAHL’s portfolio; accelerating the development of integrated Adani Airport City ecosystems around its airports with development of ~ 22 million sq. ft. of mixed-use development planned in the first phase; and scaling passenger-facing and other non-aeronautical businesses including our ground handling business.

These investments are expected to increase capacity to serve nearly 200 million passengers annually, deepen commercial monetisation, enhance passenger experience and further strengthen AAHL’s integrated airport ecosystem, it added.

What top officials said

• “This partnership marks an important milestone in building out the Adani Airports platform, and we are privileged to have such marquee, long-term investors alongside us on this journey,” said Jeet Adani, Non-Executive Director, Adani Airport Holdings Limited. “India’s aviation sector is one of the most powerful multipliers of the country’s GDP growth. Every expansion in air connectivity catalyses trade, tourism, employment and regional development well beyond the airport gate. With the backing of these partners, we will continue to invest ahead of that growth, scaling our infrastructure, city-side developments and non-aeronautical businesses to build one of the world’s leading integrated airport platforms.”

• "We will continue to build capabilities within AAHL to scale it into the world's largest airport platform," said Mr. Arun Bansal, CEO, Adani Airport Holdings Limited. "This ambition is buoyed by the exponential growth opportunities across India, the rising spending power of the Indian consumer, and the momentum of our city-side developments as powerful economic catalysts in the country's major urban centres. We are deeply grateful to our partners for their confidence and look forward to continuing on this path together as we build a truly world-class airport platform for India."

About Adani Airport Holdings

Adani Airport Holdings Ltd (AAHL), a subsidiary of Adani Enterprises, operates eight airports in India. Its business includes airport operations, passenger-related services and commercial development around airports.

About Adani Enterprises

Adani Enterprises Ltd (AEL) is the flagship company of the Adani Group and operates businesses across airports, roads, data centres, green hydrogen, copper and other infrastructure-related sectors.