International Holding Company will invest in three green-focused companies in the Adani portfolio–AGEL, ATL and AEL
International Holding Company, the Abu Dhabi-based conglomerate, recently announced that it had signed AED 7.3bn (US$ 2bn) Investment Agreement with Indian multinational conglomerate Adani Group, as primary capital in three Adani portfolio companies –Adani Green Energy (AGEL), Adani Transmission (ATL) and Adani Enterprises (AEL).
All three companies all are listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India through the preferential allotment route.
“This is a landmark transaction and marks a start of a wider relationship between Adani Group and IHC and attracting further investment from UAE into India,” commented Sagar Adani, Executive Director, AGEL.
The three Adani companies, AGEL, ATL and AEL, are market leaders in their business sectors and span the Adani Group’s green portfolio. Every one of these three businesses has the core aspects of ESG woven into their operations.
“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,” remarked Syed Basar Shueb, CEO and Managing Director, IHC.