IHC raises stake in Adani Enterprises
Company PJSC (IHC) said on Tuesday that it has raised its stake in Adani Enterprises Ltd (AEL) days after exiting two other Adani Group companies.
IHC boosted its holding in Adani Group flagship AEL to more than 5% from the 3.53% stake it first acquired in May 2022 for ₹7,700 crore. The investor last week disclosed that it would sell its stakes in Adani Green Energy and Adani Energy Solutions (formerly Adani Transmission).
IHC said the decision to boost its holding in AEL reflects its conviction in the business incubation model of AEL, and the inherent strength of airports, data centres, green hydrogen and other verticals being incubated by the company.
«IHC continues to explore unique investment opportunities in India with the goal to maximise stakeholders' return,» IHC said in a statement.
The company now holds 5.04% in AEL through two separate subsidiaries, showed a regulatory filing on Tuesday.
Banking on India's Growth Potential
«We are delighted with IHC's decision to enhance its investment in Adani Enterprises Ltd, 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,» Adani Group said in a statement.
«We see IHC's increased stake as a ringing endorsement of our robust capex plans, governance and transparency. This inter-generational relationship with IHC reflects well on India's dynamic growth potential and offers substantial returns to our stakeholders,» it said.
IHC had also invested Rs 7,700 crore across Adani Green Energy and Adani Energy Solutions in May 2022.
