Uae S Ihc Commits 2 Billion Investment In Three Adani Group Companies

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UAE's IHC Commits $2 Billion Investment in Three Adani Group Companies

ri-calendar-2-lineAug 28, 2023

By: BlinkX Research Team

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Abu Dhabi's International Holding Company (IHC) plans to invest $2 billion in three companies within the Adani group - Adani Green Energy Ltd, Adani Transmission Ltd, and Adani Enterprises Ltd. This investment will be made through a preferential allotment route, as confirmed by the Adani group.

 

The allocation includes Rs 3,850 crore each for Adani Green and Adani Transmission, and a larger amount of Rs 7,700 crore for Adani Enterprises. The transaction is expected to conclude in around a month, once the necessary approvals are secured from shareholders and regulators.

 

The funds injected by IHC will support the growth of these businesses, strengthen their financial positions, and serve general corporate objectives. This move also reflects a shared commitment to sustainable infrastructure and green energy, leading to the potential for further investments from the UAE into India.

 

The investment will result in IHC acquiring stakes in these companies: 3.53% in Adani Enterprises, 1.41% in Adani Transmission, and 1.26% in Adani Green. The shares will be allotted at specific prices.

 

This strategic partnership is seen as a positive step for both Adani companies and India's green energy sector, attracting global interest and emphasizing their growth potential.

 

Source: Media Reports

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