Abu Dhabi's IHC Increases Stake In Adani Enterprises To Over 5%

A few days after divesting its shares in two Adani Group companies, the Abu Dhabi-based conglomerate International Holding Company (IHC) announced on 3 October that it has increased its ownership in the Adani Group’s flagship, Adani Enterprises (AEL), to over five per cent.

In a statement to the Abu Dhabi stock exchange, IHC expressed its confidence in AEL’s innovative incubation model. IHC believes that AEL’s various ventures, including airports, data centres, green hydrogen, and more, are well-positioned to benefit from India’s strong growth trajectory. 

IHC also mentioned its ongoing exploration of unique investment opportunities in India to maximise returns for stakeholders.

Last week, IHC had stated its intention to sell its 1.26 per cent stake in Adani Green Energy and its 1.41 per cent stake in Adani Energy Solutions as part of a portfolio rebalancing strategy.

The Adani Group welcomed IHC’s decision to increase its investment in Adani Enterprises, viewing it as an endorsement of AEL’s role as a global leader in nurturing new businesses, especially in sustainable infrastructure, global aviation infrastructure development, and equitable energy transition. 

An Adani Group spokesperson expressed confidence in their capital expenditure plans, governance, and transparency, and highlighted the potential for substantial returns for their stakeholders.

Adani Enterprises’ shares closed at Rs 2387.10, representing a 1.11 per cent decrease on 3 October.