Adani Enterprises Limited (AEL) has announced the execution of a Shareholders’ Agreement for Adani Airport Holdings Limited (AAHL). This agreement facilitates the raising of funds through an equity share issuance by AAHL to identified investors, potentially diluting AEL’s stake by up to 5.54% in its airport subsidiary. The pact governs inter-se rights and obligations among parties involved in the capital infusion.
Shareholders’ Agreement for AAHL
Adani Enterprises Limited (AEL) announced on September 9, 2026, the execution of a Shareholders’ Agreement concerning its subsidiary, Adani Airport Holdings Limited (AAHL). This agreement is a crucial step in raising funds for AAHL through the issuance of equity shares to a group of identified investors.
Fundraising and Stake Dilution
The transaction is structured to allow identified investors to acquire a stake of up to 5.54% in AAHL. This equity issuance will inject capital into the airport operations subsidiary. Adani Enterprises Limited currently holds 100% of AAHL’s equity share capital. The Shareholders’ Agreement will define the rights and obligations among the parties involved, becoming effective upon the consummation of the first tranche of investment.
Key Agreement Details
The agreement involves The Company (AEL), AAHL, and several entities identified as ‘Identified Investors,’ including Alpha Wave III, LP; PI Opportunities Fund-I Scheme-II and PI Opportunities Fund II (Premji Invest); Jongsong Investments Pte. Ltd. (Temasek); and various BlackRock entities such as BlackRock Global Allocation Portfolio, BlackRock Global Funds – Global Allocation Fund, BlackRock Strategic Income Opportunities Portfolio, and BlackRock Global Funds – Fixed Income Global Opportunities Fund.
Significant terms of the agreement include rights related to appointing directors, first rights to share subscription in case of future share issuances, and restrictions on changes to AAHL’s capital structure. AAHL is currently a wholly-owned subsidiary of Adani Enterprises Limited. The details of the agreement are provided in Annexure 1 of the filing.
Source: BSE
