Adani Enterprises shares jump as airport unit enters into $1 billion fundraising deal
The investors will subscribe to new shares in three tranches and collectively own about 5.54% of the airport operator after the final tranche.
Indian billionaire Gautam Adani's airport division plans to raise $1.3 billion through a stake sale to an international group of investors. The sale of 5.54% of Adani Airport Holdings will value the company at $18 billion before the investment, according to a news release on September 9. This marks the first foreign investment in Adani Airport, a subsidiary of Adani Enterprises, demonstrating the conglomerate's ability to regain the trust of global investors after resolving bribery allegations from the US Department of Justice.
The investors will purchase shares in three installments, with the last tranche expected by July 2027. Adani Airport is India's largest private airport operator, managing eight airports across the country, including those in Mumbai, which handles approximately 96 million passengers annually.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
