Adani Airport Holdings to raise Rs 1,500 crore for 6 of its airports

Adani Airport Holdings Ltd (AAHL) is looking to raise up to Rs 1,500 crore through three-year bonds priced at 8.45%, with quarterly interest payments, said people familiar with the matter.

The fundraise is being planned at the restricted group level for the group's airports at Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram—located in state capitals or large cities across Gujarat, Uttar Pradesh, Rajasthan, Assam, Karnataka and Kerala.

The fundraise structure consolidates the six airports and restricts additional indebtedness. These airports currently have a combined annual capacity of about 39 million passengers, which is predicted to double by FY30, according to an India Ratings report.


Trust Investment Advisors is the arranger for the bond sale. India Ratings has assigned an AA– rating to the proposed issuance.

AAHL had also issued NCDs totalling Rs 400 crore in FY24 and FY25, maturing between 2027 and 2029 as part of its overall financing plan. The proceeds were utilised for capex requirements.


The proposed bond sale comes amid a broader revival in Adani Group’s domestic debt market activity. Earlier this month, Adani Power said it would raise Rs 7,500 crore through NCDs.

Over the past 15 months, five Adani companies have together raised about Rs 14,000–15,000 crore.

Group flagship Adani Enterprises raised about Rs 2,000 crore through two public NCD issues in July 2025 and January 2026. Adani Ports and Special Economic Zone Ltd sold Rs 5,000 crore of 15-year AAA-rated bonds in May 2025 at a 7.75% coupon, fully subscribed by Life Insurance Corp of India.

Last October, Adani Transmission’s step-down unit ATSTL raised Rs 995 crore through 17-year bonds from investors including Nippon Life India Mutual Fund and India Infrastructure Finance.