Adani Airports raises $750 mn via ECBs from international banks
NEW DELHI: Adani Airports Holdings Ltd (AAHL) Wednesday said it has raised $750 million via external commercial borrowings (ECB) from a consortium of international banks. The transaction was led by First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank.
Tired of too many ads? go ad free now
The company says it will 'use the proceeds to refinance existing debt, invest in infrastructure upgrades, and capacity expansion across the six airports — Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram; scale the non-aeronautical businesses, including retail, F&B, duty free and services across the airport network.'
AAHL is India's largest private airport operator (in terms of number of airports it operates) and a subsidiary of Adani Enterprises Limited.
The company saw 9.4 crore passengers in FY 2024–25 with an overall capacity of 11 crore passengers which it aims to triple to 30 crore passengers per annum by 2040 through phased development. As part of this roadmap, the Navi Mumbai International Airport is expected to be operational shortly, adding 2 crore passengers annually in the first phase, with capacity expanding up to 9 crore annually in a phased manner.
AAHL CEO Arun Bansal said: 'The trust placed in us by leading global financial institutions underscores the long-term value and potential of India's aviation infrastructure.
AAHL is well on its path to deliver exceptional customer experiences, leveraging technology for seamless operations, and prioritising sustainability and community engagement across its airport network…. remain committed to delivering customer-centric solutions and building world-class airport infrastructure that sets global benchmarks.
'
Latham and Watkins LLP and Linklaters LLP acted as English Law counsel to the transaction, Cyril Amarchand Mangaldass and TT&A acted as Indian law counsel to the transaction.
Tired of too many ads? go ad free now
AAHL was incorporated in 2019 as a 100% subsidiary of Adani Enterprises Ltd, the flagship company of the Adani Group. It operates airports in Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram. AAHL also holds 74% in Mumbai International Airport Ltd, which, in turn, holds 74% in Navi Mumbai International Airport Ltd. With eight airports in its portfolio, AAHL accounts for 23% of passenger footfalls and over 29% of India's air cargo traffic.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
27 minutes ago
- Indian Express
BMC extends tender deadline second time in a month to clear Deonar dumpsite
For the second time this month, the Brihanmumbai Municipal Corporation (BMC) has extended the deadline of its ambitious Rs 2,368 crore tender which was floated for appointing a contractor to remove solid waste that are currently lying untreated at the Deonar dumpsite through the scientific method of bio-remediation within three years. The Deonar dumpsite is one of the sites that have been selected by the state government for constructing housing tenements for the Dharavi Redevelopment Project (DRP)–a venture steered by the Adani group and Maharashtra government's Slum Rehabilitation Authority (SRA). The tender was floated on May 14, and the initial deadline was set up at June 3, which was later revised to June 23. Meanwhile, the new deadline stands at July 1. A total of 21 bidders have shown interest in the project. However, till date BMC officials said that no formal bid was submitted by any of the 21 interested parties that had evinced interest in the project. Civic officials said that the primary reason behind the extension is mainly due to the queries that are being submitted by bidders. 'Just because 21 firms have shown interest doesn't mean that all of them will submit their bids and unless we get an adequate number of bidders to submit their bids the deadline will be extended because we want to have competitive pricing,' the official added. At present, the Deonar dumpsite houses 1.85 crore metric tonnes (MT) of legacy waste which are stacked on piles forming large mounds rising upto a height of 40 metres. In its tender document, the BMC has maintained that a total 271-acre portion of the larger 311-acre dumpsite will be cleared. 'The queries raised by officials were mainly related to logistical challenges. A large number of them shared their concern about how such a large pile of legacy waste could be cleared within a three-year period especially because in Mumbai monsoon is there for four months. So, the contractor will lose 12-months within the total 36-month contract since this process can't be executed during the rainy season. So technically, the appointed contractor will get a 24-month window to complete the work,' a civic official told the Indian Express. The officials said that all the contractors who have submitted queries are Indian firms associated with solid waste management (SWM). Some of these firms are based out of Telangana, Tamil Nadu, Madhya Pradesh and Maharashtra. The BMC's move of floating a tender to clear the dumpsite also came seven months after the state government in October last year earmarked 124-acre of the Deonar dumpsite for constructing housing tenements for the DRP which is being executed by a special purpose vehicle–Navbharat Mega Developers Private Limited (NMDPL)–where the Adani Properties Private Limited (APPL) holds 80% of the stake, while the remaining 20% is with SRA.
Hindustan Times
28 minutes ago
- Hindustan Times
India charting new road with record export, free trade agreements: Piyush Goyal
New Delhi: India is charting a new road to economic prosperity with record export figures and multiple free trade agreements, commerce minister Piyush Goyal said on Monday, highlighting the Vanijya Bhawan's efficient infrastructure, effective support systems and positive work environment that was created three years ago. Union minister of commerce and industry Piyush Goyal addresses the gathering during the 3rd year anniversary celebration of Vanijya Bhawan, in New Delhi on Monday. (ANI Photo) 'Supported by a robust digital ecosystem, processes are being streamlined and made quick and more transparent,' the minister said, emphasizing that the Vanijya Bhawan personifies the spirit of optimism and resilience that helped the government to achieve record exports of $825 billion in 2024-25 against all odds. Vanijya Bhawan houses the commerce and industry ministry. Despite global headwinds and adverse geopolitical situations, India has been able to register record export growth year-after-year, which is as per the Prime Minister Narendra Modi's vision that it is a major growth engine, an official said referring to PM inaugurating the modern administrative building of the commerce ministry on June 23, 2022. 'Exports play a key role in the transition of a country from developing to developed status,' Prime Minister said that day. The Union budget for FY26 acknowledged exports as one of the four growth engines for the Indian economy with agriculture as the first engine followed by micro, small and medium enterprises (MSMEs) and investments. Vanijya Bhawan, which is a symbol of 'new thinking', is now India's centre of major trade negotiations, including the recently concluded bilateral trade deal with the United Kingdom and two major ongoing free trade negotiations with the United States and the European Union, the official mentioned above said. 'In all likelihood, an FTA negotiation with Canada is expected to be resumed soon even as we are engaged with similar bilateral trade deals with Peru, Chile and New Zealand. Our hands are full,' he said. 'Vanijya Bhawan has been envisioned as a modern, efficient, integrated and dedicated hub for India's fast-growing commerce and industry ecosystem,' Goyal said in a series of posts on X. 'In the 3 years since its inauguration by Prime Minister @NarendraModi ji, several milestones have been achieved and new benchmarks set in the way India does business,' Goyal said in the post. This has been made possible by the commitment of our employees. From senior officials to the cleanliness staff, each individual working here is helping script the memorable story of India's trade and commerce, he said. 'I would like to thank each and every member of the Vanijya Bhawan Parivar,' he added. The achievements of the last three years remind us of the power of planning, dedication and execution, the minister said. 'Let us commit once again to engage further with our industry and global partners to realise the goal of Viksit Bharat 2047,' he said. 'Development of state-of-the-art futuristic infrastructure has been another highlight. The focus is squarely on empowering businesses and attracting greater investments. Enhancing stakeholder consultations, reducing compliance burden and improving Ease of Doing Business have resulted in empowerment of small businesses, increased investor confidence and a more competitive trade environment,' the minister said. The Prime Minister on June 22, 2018 laid the foundation stone of the Vanijya Bhawan. The building has been completed in less than the budgeted cost of 226 crore. On the day of its inauguration three years ago, Goyal said that the Vanijya Bhawan would be made completely digital and would become a symbol of India's growing power on the global platform.
Time of India
32 minutes ago
- Time of India
Dutch investor Prosus pegs IPO-bound Urban Company's fair value at $2.4 billion
Dutch technology investor Prosus has pegged the fair value of at-home services platform Urban Company at $2.4 billion, according to its FY25 annual report. The Gurugram-based firm is among several Prosus-backed Indian startups preparing to go public. Prosus Ventures holds a 6.8% stake in Urban Company, which recently filed a draft red herring prospectus (DRHP) for a Rs 1,900 crore initial public offering (IPO). The offer includes a primary issue of Rs 429 crore and an offer for sale (OFS) of Rs 1,471 crore, through which early investors, including Accel , Elevation Capital, Tiger Global, and Vy Capital, will offload stakes. Over the past year, Urban Company closed multiple pre-IPO secondary transactions at a valuation of around $1.8 billion, ET reported. Another Prosus-backed company, omnichannel jewellery retailer BlueStone, is also gearing up for an IPO . As reported by ET on June 18, the private wealth management arms of 360 One and Centrum Wealth are in talks to facilitate secondary transactions worth Rs 300–350 crore in BlueStone. Both platforms are expected to sell the stakes to their clients ahead of the company's public market debut. The transaction is also likely to value BlueStone at around Rs 10,500 crore ($1.2 billion), about 30% higher than its last reported valuation of Rs 8,100 crore in August 2024, when it raised Rs 900 crore through a mix of primary and secondary funding from investors including Peak XV Partners and Prosus. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Meanwhile, ecommerce marketplace Meesho , where Prosus owns about 13%, is expected to file its DRHP in the coming weeks. The company recently completed a reverse flip to shift its domicile to India, a key regulatory requirement ahead of its IPO plans. The listing preparations come amid a broader trend of global investors seeking to partially monetise long-held Indian tech bets, amid signs of a gradual revival in IPO activity. Prosus has been among the most active foreign investors in India's startup ecosystem, with a portfolio spanning fintech, edtech, ecommerce, logistics, and consumer tech.
