Adani Airport Holdings Limited has entered into definitive agreements to secure ₹9,825 crore (approximately $1 billion) from a consortium of investors, including Alpha Wave Global, Premji Invest, Temasek, and funds managed by BlackRock. This strategic fundraising is targeted at enhancing the infrastructure and development of Adani’s airport projects.
Cyril Amarchand Mangaldas’ Role
Cyril Amarchand Mangaldas provided comprehensive legal advice to Adani Airports throughout this transaction. Their involvement spanned from structuring the deal to drafting, negotiating, and finalizing the binding agreements. Additionally, the firm conducted due diligence on the target assets.
The transaction team was spearheaded by Subhalakshmi Naskar, Partner and Co-Head of Projects (Infrastructure), alongside Anand Deshpande, Partner. Yashasvi Raj, an Associate, supported the deal team. The due diligence efforts were led by Anand Deshpande, with assistance from associates Hrishikesh Jaiswal, Yashasvi Raj, Anshum Agarwal, Prakhar Khandal, Soumya Modi, and Trisha Choudhary. The transaction also benefited from the overarching guidance of L. Viswanathan, a Senior Partner, with strategic input from Partners Gathi Prakash, Aviral Sahai, and Nidhi Asher.
JSA Advocates and Solicitors’ Contribution
JSA Advocates and Solicitors represented Temasek Holdings in this transaction. The team was led by Senior Partner Vikram Raghani, with support from Partner Sayan Ghose, Principal Associates Farah Titina and Reshma Oak, Senior Associate Manoj Mohapatra, and Associates Yagnesh Sharma, Shaan Manata Bhatt, Niki Shah, and Wyoma Chudasama. Senior Partner Poonam Verma provided insights on aviation-related aspects, while Varghese Thomas, also a Senior Partner, advised on litigation matters.
AZB & Partners’ Engagement
AZB & Partners acted on behalf of Alpha Wave Global and Premji Invest. Their legal expertise was instrumental in securing the investment, which Adani Airports plans to use for modernizing its airport facilities, initiating the development of 22 million square feet in Adani Airport City as part of Phase 1, and expanding its non-aeronautical and ground-handling operations.
Through this strategic investment, Adani Airports aims to strengthen its position and enhance operational capabilities in the aviation sector. This significant financial infusion will support the company’s future growth and infrastructural ambitions.
