International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate, announced that it had signed an AED 7.3 billion (USD 2 billion) Investment Agreement with Indian multinational conglomerate Adani Group, as primary capital in three Adani portfolio companies – Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL) which all are listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India – through the preferential allotment route. The boards of AGEL, ATL, and AEL met and approved the transaction. The investment is subject to shareholder and regulatory approvals and shall comply with SEBI regulations.
“We are delighted to have the opportunity to initiate this intergenerational relationship with IHC. We are deeply committed to the shared vision and values of investment in sustainable infrastructure, green energy, and the energy transition. This is a milestone transaction and marks a beginning of a broader relationship between Adani Group and IHC, which will generate further investment from UAE into India.”
AGEL, ATL, and AEL, all of which belong to the Adani Group, are market leaders in their respective business sectors. These three businesses each have core ESG elements woven into their operations. IHC and Adani Portfolio’s shared commitment to investing in sustainable companies that are leading the charge in energy transition is demonstrated in this investment.
For IHC, this will be a long-term investment in India as the country is driving much innovation globally, including the green energy sector. The opportunity to earn a compelling return on investment in green energy has never been greater. IHC remain positive that Adani companies will play a significant role in unleashing India’s total green energy potential, reflecting positively on IHC shareholders’ commitment.
IHC will invest AED 1.83 billion (USD 500 million) in AGEL, AED 1.83 billion (USD 500 million) in ATL and AED 3.67 billion in AEL (USD 1 billion), in compliance with SEBI regulations. The transaction is expected to be completed in a month after all necessary approvals are obtained. The capital will be utilized for pursuing the growth of the respective businesses, further strengthening of the balance sheet and for general corporate purposes.
