Adani's Mumbai Airport Arm Closes $750 Million Funding Deal with Apollo-Led Consortium.

Mumbai International Airport Ltd (MIAL), a key subsidiary of Adani Airport Holdings, has successfully secured a significant $750 million investment from a consortium led by affiliates of Apollo-managed funds and other long-term investors. The announcement was made by the U.S. private capital group recently.

The four-year unsecured notes will primarily be utilized to refinance existing debt, providing MIAL with greater financial flexibility. Apollo's statement also indicated an option to raise an additional $250 million, potentially bringing the total new capital to $1 billion. This latest infusion of funds follows a $750 million investment secured earlier this month by Adani Airports Holdings from a group of international banks.

This strategic investment comes as Adani Airports Holdings, the airport division of Adani Enterprises, is reportedly gearing up for a potential spin-off and listing by March 2027, according to a Bloomberg report from June. This move could further unlock value for the Adani Group's burgeoning airport business.