Adani Airport Holdings—controlled by ports-to-energy billionaire Gautam Adani—is raising 98.3 billion rupees ($1 billion) by selling part of the company to a consortium of investors that includes Singapore state-owned investment firm, Temasek and U.S. asset management giant BlackRock.

The deal, which values Adani Airport at around $18 billion on a pre-money basis, comprises the issuance of new shares to the investors in three tranches, with the final tranche expected to be completed by July 2027, subject to regulatory approvals. The consortium, which also includes Premji Invest of Indian billionaire Azim Premji and New York-based private equity firm Alpha Wave Global, will acquire a 5.5% stake in Adani Airport, the Ahmedabad, Gujarat-based company said in a statement on........

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