Adani Airports, which develops and manages airports across India, including Ahmedabad, Lucknow, Mangaluru, Mumbai, Guwahati, Jaipur and Thiruvananthapuram, has raised $250m in funding for capital expenditure and the development of six airports in its portfolio.
The funding was secured through a three-year ECB facility from two international banks, with an option to raise an additional $200m. The financing structure will enable a scalable capital solution with flexibility to tap global capital markets in line with Adani Airports’ vision of providing a transformational airport infrastructure platform.
“We are focused on delivering high quality infrastructure access to our consumers both through physical and digital channels,” said a spokesperson for Adani Airports. “The first phase of our capital management plan is now set in motion with the funding of Adani Airports, Mumbai Airport Limited and Navi Mumbai International Airport Limited, 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.”
Adani Airports recently concluded the Mumbai International Airport Limited (MIAL) $750m private placement to Apollo and $1.74bn closure of Navi Mumbai International Airport Limited (NMIAL).
Adani Airports’ airport portfolio is responsible for 50% of the top 10 domestic routes in India, 23% of the total Indian air traffic and 30% of India’s air cargo. The group handles around 200m customers per annum.
