Dubai: Adani Airport Holdings Limited is set to raise about $1 billion in fresh equity from a group of major global and domestic investors, with the money earmarked for airport expansion, modernisation and facilities designed to support around 200 million passengers annually.The ₹9,825 crore investment will come from a consortium comprising Alpha Wave Global, Premji Invest, Temasek and BlackRock-managed funds, valuing the airport business at around $18 billion before the new investment.Investors will subscribe to new shares in three tranches, with the final tranche expected to be completed by July 2027. Once all three are completed, they will collectively own approximately 5.54% of Adani Airport Holdings Limited.The transaction remains subject to customary conditions, including applicable approvals.Airports prepare for higher passenger capacityPart of the new capital will be used to expand and modernise airport infrastructure across AAHL's portfolio, with planned investments expected to increase capacity to around 200 million passengers a year.Money will also go towards passenger-facing operations, ground handling and other non-aeronautical businesses.22 million sq ft planned around airportsAnother priority is the development of integrated Adani Airport City projects surrounding its airports, with around 22 million sq ft of mixed-use development planned during the first phase.The company said these developments form part of its broader strategy to build an integrated airport ecosystem combining aviation infrastructure with commercial and city-side businesses.Investors to take 5.54% stakeThe deal gives AAHL a pre-money equity valuation of around $18 billion and represents one of the largest primary equity investments by financial institutions in India's airport infrastructure sector.AAHL is a subsidiary of Adani Enterprises Limited and one of India's largest private airport operators.The latest fundraising follows Adani Enterprises' ₹15,000 crore qualified institutional placement in July 2026, which the company said was India's largest QIP by a non-financial corporate.Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series.