Abu Dhabi-Based IHC Increases Stake In Adani Enterprises To Over 5%

Abu Dhabi-based IHC Capital Holding LLC raised its stake in billionaire Gautam Adani's flagship Adani Enterprises Ltd. to over 5%.

IHC arm Green Vitality Rsc Ltd., along with subsidiaries Green Enterprises Investment Holding Rsc Ltd. and Green Energy Investment Holding Rsc Ltd., acquired a 0.06% stake, taking their combined shareholding to 5.04% in the Ahmedabad-headquartered company, Adani Enterprises said in an exchange filing. The transaction happened through open-market deals.

The investment "reflects IHC's conviction in the world-leading incubation model of AEL", the company said in a statement. IHC highlighted Adani Enterprises "inherent strength" in sectors like airports, data centres, and green hydrogen, among others, through which the company "is poised to uniquely capitalise on India's robust growth journey".

Ringing Endorsement

"We are delighted with IHC's decision to enhance its investment," AEL said in a statement, adding that the move "validates AEL's standing as a global leader in incubating new businesses, particularly in sustainable infrastructure, developing global aviation infrastructure, and equitable energy transition."

The Adani Group company said IHC's increased stake is a "ringing endorsement" of its robust capex plans, governance, and transparency.

"This inter-generational relationship with IHC reflects well on India's dynamic growth potential and offers substantial returns to our stakeholders," the statement said.

Last week, IHC said it would dispose of its investment in Adani Green Energy Ltd. and Adani Energy Solutions Ltd. (formerly Adani Transmission) as part of its overall portfolio rebalancing strategy.

In January, IHC had committed 1.4 billion Emirati dirhams—around $400 million or Rs 3,260 crore—in Adani Enterprises' Rs 20,000-crore FPO, which was later shelved.

Earlier this month, two of Adani Enterprises' promotor-owned companies acquired a total of 2.06% stake in the group's flagship company from the open market.

Kempas Trade and Investment Ltd. and Infinite Trade and Investment Ltd. bought a total of 2.35 crore shares in Adani Enterprises. This took the total promoter stake in the company to 71.93%.

Shares of Adani Enterprises closed 1.02% lower at Rs 2,387.55 apiece ahead of the announcement, compared to a 0.48% decline in the S&P BSE Sensex.

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