Adani Airports Secures $750 Million For Capex, Refinancing

Adani Airports, India's largest private airport operator and a subsidiary of Adani Enterprises Ltd., has successfully raised $750 million through external commercial borrowings from a consortium of international banks. The financing was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank.

The funds will be utilised to refinance existing debt of $400 million and to invest in infrastructure upgrades and capacity expansion across six airports: Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. Additionally, the financing will support the growth of Adani Airports Holdings Ltd.'s (AAHL) non-aeronautical businesses, including retail, food and beverage, duty-free, and other services across its airport network.

In the fiscal 2024-25, AAHL served 94 million passengers, with an overall capacity of 110 million passengers. The company aims to triple this capacity to 300 million passengers per annum by 2040 through phased development.

As part of this expansion plan, the Navi Mumbai International Airport is expected to become operational soon, initially accommodating 20 million passengers in its first phase, with capacity eventually expanding to 90 million annually. This development is set to significantly enhance the aviation infrastructure in the Mumbai region.