IHC completes AED7.3 billion Adani group transaction

IHC completes AED7.3 billion Adani group transaction

WAM: International Holding Company (IHC) announced on Tuesday the completion of an AED7.3 billion (US$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 (ADNA.NS), Adani Transmission Ltd (ADAI.NS), and Adani Enterprises Ltd (ADEL.NS), 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 long-term plans for clean energy.