Adani Airports raises $250 mn for capex, option for another $200 mn
NEW DELHI: Preparing to embark on a major infra upgrade, Adani Airport Holdings Ltd (AAHL) has raised $250 million funding from a consortium of Standard Chartered and Barclays Bank with an option to raise another $200 million. The wholly owned subsidiary of Adani Enterprises describes this as the “first milestone in its capital management plan”.
Last week Mumbai International Airport Ltd (MIAL) had raised $750 million from Apollo, and achieved $1.7 billion financial closure for the upcoming Navi Mumbai Airport from the domestic banking system. All together, AAHL has tapped three different pools of capital cumulating to $2.7 billion. It is now “geared for the next phase of its capital management plan which includes tapping the public capital markets and further construction facilities to enable access to long term capital sources for infrastructure development.”
An AAHL spokesperson said: “We are focussed on delivering high quality infrastructure access to our consumers both through physical and digital channels. The first phase of our capital management plan is now set in motion with the funding of AAHL, MIAL and NMIAL, and we will now focus on scaling up the airports business into one of the largest airport platforms globally. We are grateful to our stakeholders and consumers for their continued support and their confidence in us.”
AAHL is an integrated airport network consisting of eight airports located around city centres that account for about 23% of the total Indian air traffic and 30% of India’s air cargo. AAHL airports handle about 20 crore consumers, including passengers and non-passengers, annually. It manages airports at Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram, and is constructing Nav Mumbai Airport.