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FAB joins banks to lend $750m to India’s Adani unit

By Pramod Kumar
By 2040, Adani Airports, India's leading private operator, targets tripling its annual capacity to handle 300 million passengers Alamy via Reuters
By 2040, Adani Airports, India's leading private operator, wants to triple its annual capacity to handle 300 million passengers
  • Adani Airports Holdings raises money
  • Wants to refinance existing debt
  • Plans to expand capacity

Adani Airports Holdings, the largest private airport operator in India, has raised $750 million from banks including the UAE’s First Abu Dhabi Bank (FAB).

The other banks involved are Barclays and Standard Chartered, the Bombay Stock Exchange-listed company said in a statement on Wednesday.

Adani Airports Holdings (AAHL) is a subsidiary of India’s Adani Enterprises, the flagship company of the Adani Group.

AAHL is to refinance $400 million in debt, while the remaining $350 million will be invested in upgrading and expanding capacity at six airports.

The company served 94 million passengers in 2024-25 with an overall capacity of 110 million passengers. It says it aims to triple this capacity to 300 million passengers a year by 2040 through phased development.

Last month India’s central bank approved Emirates NBD Bank to set up a wholly owned subsidiary in India. The lender has been present in India since November 2017, having invested $100 million in capital.

Abu Dhabi’s International Holding Company said last year that it was standing firm on its outlook for investments in the Adani Group despite an indictment against its billionaire owner Gautam Adani and seven others in the US.

Last July the Abu Dhabi Investment Authority and Qatar Investment Authority invested in Adani Energy Solutions’ qualified institutional placement, which raised up to $1 billion.

IHC invested $2 billion in three Adani Group firms in 2022: Adani Green Energy, Adani Energy Solutions and Adani Enterprises.

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