Adani Enterprises shares hit a day high of ₹3,142 on Wednesday after its airport arm agreed to raise $1 billion from BlackRock and Temasek.

The company behind the move is Adani Airport Holdings, or AAHL. It has entered binding agreements with Alpha Wave Global, Premji Invest, Temasek and BlackRock funds to bring in ₹9,825 crore of fresh equity.

The deal puts a pre-money valuation of $18 billion on the airport business. AAHL already runs eight airports across India and handles more than 23% of the country’s total passenger traffic, so this isn’t a small player raising money on a hope and a prayer.

The fundraise will happen in three tranches, with the last one expected to close by July 2027. Once done, the investor group will hold roughly 5.54% of AAHL between them.

Most of these funds will go into expanding and modernising airport infrastructure. Some of it will fund an integrated township project called Airport City, starting with about 22 million square feet of mixed use development.

The rest goes toward non-aeronautical businesses like ground handling. AAHL says all this is meant to help it serve around 200 million passengers a year eventually.

Jeet Adani, Non-Executive Director at AAHL, described the deal as a key milestone for the airport platform and said the new investors would back the company’s growth plans going forward.

Adani Enterprises has been on a fundraising streak lately. Back in July 2026, it raised ₹15,000 crore through a qualified institutional placement, its largest such raise as a non-financial company in India.

By 11:40 am on Wednesday, the stock was trading at ₹3,100, up 4.97% on the NSE.

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