IHC increases stake in Adani Enterprises to above 5%
International Holding Co (IHC) on Tuesday said that it has increased its stake in Adani Enterprises to above 5%.
“This strategic increase reflects IHC's conviction in the world-leading incubation model of AEL and we believe that the inherent strength of Airports, Data Centers, Green Hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalise on India’s robust growth journey,” the company said in a statement.
IHC continues to explore unique investment opportunities in India with the goal to maximise stakeholders’ return.
As of June end, IHC, through its subsidiary Green Enterprises Investment Holding Rsc Ltd, held a 3.53% stake in Adani Enterprises.
While IHC increased its stake in the Adani Group’s flagship company, the company, last week, announced plans to sell its stakes in two other group firms – Adani Green Energy and Adani Energy Solutions.
IHC’s decision to sell off the stake in the two Adani firms is part of the company’s plan to rebalance its overall portfolio strategy.
As of June end, IHC through its arm Green Transmission Investment Holding held a 1.4% stake in Adani Energy Solutions. Green Energy Investment Holding held a 1.3% stake in Adani Green Energy.
In 2022, IHC invested close to $2 billion in three Adani Group firms — Adani Green Energy, Adani Energy Solutions, and Adani Enterprises.
