IHC to invest $2 bn in Adani Group’s green portfolio – EQ Mag Pro
New Delhi : Abu Dhabi-based conglomerate International Holding Company will invest USD 2 billion in three green-focused companies in the Adani Group through preferential share allotment.
“IHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd (AEL),” the group led by billionaire Gautam Adani said in a statement.
It, however, did not say how much equity will IHC pick up in the three firms.
The boards of AGEL, ATL and AEL met and approved the transaction on Friday.
The investment is subject to shareholder and regulatory approvals and shall comply with the Sebi regulations.
“IHC and Adani portfolio are committed to growing the business partnership across multiple strategic opportunities in India, the Middle East and Africa,” the group said.
Sagar Adani, Executive Director, AGEL, said, “We are deeply committed to the shared vision and values of investment in sustainable infrastructure, green energy and energy transition. This is a landmark transaction and marks a start of a wider relationship between the Adani Group and IHC and attracting further investment from UAE into India”.
“IHC and Adani portfolio are committed to growing the business partnership across multiple strategic opportunities in India, the Middle East and Africa,” the group said.
Sagar Adani, Executive Director, AGEL, said, “We are deeply committed to the shared vision and values of investment in sustainable infrastructure, green energy and energy transition. This is a landmark transaction and marks a start of a wider relationship between the Adani Group and IHC and attracting further investment from UAE into India”.
Source: PTI
