“Abu Dhabi’s International Holding Company Boosts Stake in Adani Enterprises to Over 5%”
Abu Dhabi’s International Holding Company (IHC) has increased its stake in Adani Enterprises to over 5%, citing confidence in Adani’s incubation model and India’s growth prospects.
International Holding Company (IHC), headquartered in Abu Dhabi, has announced a strategic move to raise its stake in India’s Adani Enterprises Ltd (AEL) to over 5 percent. This decision follows IHC’s recent sale of its holdings in two Adani Group companies, Adani Green Energy Ltd and Adani Energy Solutions, as part of a portfolio rebalancing strategy.
In an official filing to the Abu Dhabi stock exchange, IHC expressed its conviction in Adani’s world-leading incubation model and the significant potential it sees in various verticals, including airports, data centers, and green hydrogen, which are being nurtured under the Adani Enterprises umbrella. IHC firmly believes that these ventures are well-positioned to capitalize on India’s robust growth journey.
“IHC continues to explore unique investment opportunities in India with the goal to maximize stakeholders’ return,” the filing stated, highlighting its commitment to India’s dynamic business landscape.
The move has been met with enthusiasm from Adani Enterprises and its leadership. A spokesperson for the Adani Group welcomed IHC’s decision, stating, “We are delighted with IHC’s decision to enhance its investment in Adani Enterprises Ltd (AEL), which further validates AEL’s standing as a global leader in incubating new businesses, particularly in sustainable infrastructure, developing global aviation infrastructure, and equitable energy transition.”
The spokesperson emphasized that the increased stake from IHC reflects positively on India’s growth potential and demonstrates confidence in Adani’s capital expenditure plans, governance, and transparency. The strengthened partnership between IHC and Adani Enterprises is seen as a significant development that promises substantial returns to stakeholders.
Despite the positive news, Adani Enterprises’ shares closed at Rs 2387.10, down by 1.11 percent, on October 3. Market analysts are closely monitoring the company’s progress and expect increased investor interest following IHC’s strategic investment.
This move by International Holding Company underscores the growing interest of global investors in India’s thriving business landscape and reaffirms the optimism surrounding Adani Enterprises’ ventures in sustainable infrastructure and energy transition. With a stronger partnership in place, the future looks promising for both IHC and Adani Enterprises as they continue to play a pivotal role in India’s growth story.
Sources By Agencies
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