Adani Enterprises stock jumps 4% as BlackRock, Temasek, Premji Invest sign up for Adani Airports stake

New business data points to the fact that Adani Enterprises shares extended upside on Wednesday, rising nearly 4 percent and ranking among the top Nifty gainers, after its airport subsidiary signed a shareholders’ agreement with marquee market participants for raising funds. The market participants include BlackRock, Temasek, Premji Invest and Alpha Wave for the sale of up to a 5.54 percent stake.

The Adani Enterprises stock was up 3.6 percent at Rs 3,060 in morning trade, extending its earlier upside even as the broader market came under heavy selling pressure. At around 10:00 am, the Sensex was down 607 points or 0.8 percent at 74,970.38, while the Nifty 50 declined 155 points to 23,479.85. Adani Enterprises stock has now advanced more than 35 percent so far in 2026, compared with a slide of around 10 percent in the Nifty 50 over the same period.

In a regulatory filing on September 9, Adani Enterprises stated it had entered into a shareholders’ agreement with wholly owned subsidiary Adani Airport Holdings Ltd (AAHL) and identified market participants for raising funds through the issuance of equity shares by AAHL. The market participants will acquire a stake of up to 5.54 percent in the airport operator.

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The identified market participants include Alpha Wave III, Premji Invest and Temasek's Jongsong Investments, along with four BlackRock funds – BlackRock Global Allocation Portfolio, BlackRock Global Funds - Global Allocation Fund, BlackRock Strategic Income Opportunities Portfolio and BlackRock Global Funds - Set Income Global Opportunities Fund.

The development marks a significant step forward in AAHL's fund-raising exercise. Moneycontrol had noted exclusively last week that BlackRock was exploring a significant equity infusion into the airport operator as part of a proposed transaction that could value AAHL at more than $20 billion. At the time, discussions were stated to be at an advanced stage, but BlackRock had yet to take a final decision.

Wednesday's filing confirms BlackRock's participation in the shareholders’ agreement, alongside the other market participants, although Adani Enterprises did not disclose the size of the fund raise, the offering price or the valuation at which the shares would be issued.

Adani Enterprises at present owns 100 percent of AAHL. The rights under the shareholders’ agreement will become effective after the first tranche of investment by the identified market participants is completed and will subsequently be incorporated into AAHL's Articles of Association.

AAHL will offering new equity shares representing up to 5.54 percent of its equity capital to the market participants, meaning the transaction involves a primary capital infusion into the airport firm rather than Adani Enterprises selling its existing shares.

AAHL is India's largest private-sector airport operator. As of FY26, it managed nearly 23 percent of India's passenger traffic and 29 percent of its air cargo. Its portfolio includes airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati and Thiruvananthapuram, besides the Navi Mumbai airport project.