Mumbai, September 09: Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited (AEL) has entered into a binding agreement to raise Rs.9.825 crore (about $1 billion( from leading institutional investors Temasek Holdings, Premji Invest and Alpha Wave Global. This would give the investors about 5.54% in AAHL as Adani aims to expand and modernize its positon as India’s leading airport infrastructure provider.
With demand for air travel surging nationwide, AAHL is aiming to expand its position in the market by bidding for greenfield airports, upgrading existing airports and developing infrastructure around it. The company aims to develop about 22 million sq ft for mixed use in the first phase, while ramping up capacity to serve about 200 million passengers annually.
This fundraise is part of Gautam Adani’s plan to invest almost $15 billion in AAHL, as it looks to dominate India’s civil aviation infrastructure sector.
“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.” Jeet Adani, Non Executive Director, Adani Airport Holdings Limited, said in a press release.
“We will continue to build capabilities within AAHL to scale it into the world’s largest airports platform,” Mr. Arun Bansal, CEO, Adani Airport Holdings Limited, added.
“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.” he further said.
