Mumbai International Airport Ltd, operated by Adani Airports Holdings Ltd, has secured a $750 million investment from a group of global investors led by Apollo Global Management. The funds will be used to refinance a loan taken in 2022 and provide operational flexibility. The agreement also allows up to $250 million in additional funding for infrastructure development and capacity expansion.
Apollo Partner Jamshid Ehsani said, “Working with the Adani Group, we are pleased to deliver a scaled, bespoke capital solution for MIAL, supporting a critical infrastructure asset and the next phase of its ambitious growth capex plans.” He added that this marks Apollo’s second major financing for the airport, aimed at reducing debt and now providing an investment-grade solution.
Arun Bansal, CEO of Adani Airports Holdings, said, “This financing provides us with greater operational flexibility and positions us to further enhance the airport experience for millions of travelers. With Apollo’s continued support and the Adani Group’s proven execution capabilities, we are well-positioned to realize our vision of transforming MIAL into a world-class asset with a focus on efficiency, comfort and sustainability.”
According to a recent report, MIAL is likely to be spun off and publicly listed by March 2027.
Mumbai International Airport operates the Chhatrapati Shivaji Maharaj International Airport, India’s second-largest airport. The airport is managed through a public-private partnership, with Adani Airport Holdings owning 74 percent and the Airports Authority of India holding the remaining 26 percent.
The Adani Group, which is involved in sectors such as ports and renewable energy, continues to strengthen its position and rebuild lender confidence following allegations brought against the group in late 2023.
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