Ahmedabad: Adani Airport Holdings Ltd (AAHL) has signed binding agreements to raise Rs 9,825 crore, or about $1 billion, from a consortium of domestic and global investors. The consortium includes Alpha Wave Global, Premji Invest, Temasek and funds managed by BlackRock.
Upon completion of all three tranches, the investors will collectively hold about 5.54% in AAHL.
AAHL said the funds will support airport expansion and modernisation across its portfolio. The company also plans to develop integrated Adani Airport City ecosystems around its airports.
The QIP was the largest by a non-financial corporate in India, according to the company. Jeet Adani, non-executive director of AAHL, said the investment would help the company expand its airport infrastructure and city-side developments. “India’s aviation sector is one of the most powerful multipliers of the country’s GDP growth,” he said. Arun Bansal, CEO of AAHL, said the company aimed to scale its airport platform as passenger traffic and consumer spending grow in India.
The transaction remains subject to customary conditions, including applicable regulatory approvals. The company operates across aeronautical services, passenger-facing non-aeronautical businesses and city-side development. Cyril Amarchand Mangaldas, AZB & Partners, JSA Advocates and Solicitors, TT&A Advocates and Solicitors, Jefferies India, SBI Capital Markets and Ernst & Young advised on the transaction. You Can Also Check: Gold Rate in Ahmedabad | Silver Rate in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Ahmedabad AQI | Weather in Ahmedabad | Petrol Price in Ahmedabad | Diesel Price in Ahmedabad | CNG Price in Ahmedabad | LPG Price in Ahmedabad