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Abu Dhabi-based IHC to invest US$2 billion in Adani Group's green portfolio

International Holding Company PJSC (IHC), an Abu Dhabi-based conglomerate has announced to invest AED 7.3 billion (US$ 2 billion) in Indian multinational conglomerate, Adani Group's three green-focused companies.

As per the investment agreement, the primary capital will be invested in Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL), and Adani Enterprises Ltd (AEL) which all are listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India – through the preferential allotment route.

"This will be a long-term investment in India as the country is driving much innovation globally, including the green energy sector. The opportunity to earn a compelling return on investment in green energy has never been greater," said Syed Basar Shueb, CEO and Managing Director of IHC.

The three Adani companies make up Adani Group's green portfolio, and the capital invested hereunder will be utilized for pursuing the growth of their respective businesses. IHC will invest AED 1.83 billion (USD 500 million) in AGEL, AED 1.83 billion (USD 500 million) in ATL, and AED 3.67 billion in AEL (USD 1 billion), in compliance with SEBI regulations. 

"We are deeply committed to the shared vision and values of investment in sustainable infrastructure, green energy, and energy transition. This is a landmark transaction and marks a start of a wider relationship between Adani Group and IHC and attracting further investment from UAE into India," said Sagar Adani, Executive Director, AGEL.

The latest investment is subject to shareholder and regulatory approvals and compliance with SEBI regulations.

Author : Shraddha Kakade
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