Adani Airport to raise $1.3 billion from Temasek and BlackRock, among others
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Adani Airport manages eight airports in India, including Chhatrapati Shivaji Maharaj International Airport in Mumbai, handling about 96 million passengers a year.
PHOTO: REUTERS
- Adani Airport is raising $1.3 billion by selling a 5.54% stake to global investors, including Temasek, BlackRock, Alpha Wave, and Premji Invest.
- The stake sale values Adani Airport at US$18 billion (S$22.8 billion) pre-money and is the first foreign investment since resolving US bribery allegations.
- Adani Airport operates eight airports in India, including Mumbai, handling about 96 million passengers annually, with share subscription in three tranches until July 2027.
AI generated
Indian billionaire Gautam Adani’s airport unit is raising 98.25 billion rupees (S$1.3 billion) through a stake sale to a consortium of global investors that includes Alpha Wave, Temasek, Premji Invest and BlackRock Inc-managed funds.
The sale of a 5.54 per cent stake in Adani Airport Holdings values the company at a pre-money equity valuation of US$18 billion (S$22.8 billion), according to a company statement on Sept 9.
The deal marks the first foreign investment in Adani Airport, a unit of Adani Enterprises, reflecting the conglomerate’s success in winning back global investors after the tycoon resolved bribery allegations made against him by the US Department of Justice.
The investors will subscribe to new equity shares in the firm in three tranches, with the final tranche expected to be completed by July 2027, the statement said.
Adani Airport is India’s largest private sector airport operator by number of airports. It manages eight airports in India, including the ones in financial centre Mumbai, handling about 96 million passengers a year. BLOOMBERG
