Adani portfolio firms complete $2 bn deal with IHC

AHMEDABAD: Abu Dhabibased global strategic investment company, International Holding Company PJSC (IHC), announced on Tuesday the completion of a Rs 15,400 crore ($2 billion) investment transaction in the Adani Portfolio companies, Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL).

IHC has provided capital to Adani Green Energy Ltd., Adani Transmission Ltd., and Adani Enterprises Ltd., which are all listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India – through the preferential allotment route.

Syed Basar Shueb, CEO and Managing Director of IHC, said: “This strategic expansion of our business aligns with IHC’s commitment to broadening and diversifying our investment portfolio. There is no doubt that this transaction will directly and positively impact India’s overarching ambition for longterm plans for clean energy. The deal represents 4.87 per cent of the total trade between the UAE and India, which has reached $ 41 billion between 2020 and 2021; the partnership between IHC and Adani Group greatly reflects the economic ties between the UAE and India beyond the oil sector.”