The Abu Dhabi-based conglomerate International Holding Company PJSC (IHC) would invest USD 2 billion (Rs 15,400 crore) as main capital in three Adani portfolio firms via preferential allotment. Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL), and Adani Enterprises Ltd (AEL) are the three firms, and they are all listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India. The boards of AGEL, ATL, and AEL met earlier today and authorised the deal. The investment is subject to shareholder and regulatory approvals, and it must adhere to SEBI laws.
In accordance with SEBI norms, IHC would invest Rs 3,850 crore in AGEL, Rs 3,850 crore in ATL, and Rs 7,700 crore in AEL. According to an IHC press statement, the transaction is scheduled to be finalised in a month after all relevant permissions are received. The funds will be used to enhance the expansion of the various businesses, improve the balance sheet, and for general company reasons.
Sagar Adani, Executive Director, AGEL, said, “We are delighted to commence this inter-generational relationship with IHC. 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 CEO and Managing Director Syed Basar Shueb stated that this will be a long-term investment in India because the country is pushing much innovation globally, notably in the green energy industry.
“The opportunity to earn a compelling return on investment in green energy has never been greater. We are confident that Adani companies will play a significant role in unleashing India’s total green energy potential, reflecting positively on our shareholders’ commitment”, he said.
