Abu Dhabi's International Holding Company Elevates Its Share in India's Adani Enterprises Ltd Beyond 5%

Abu Dhabi -Ahmedabad, October 3, 2023 - In a significant move underscoring its confidence in India's growth prospects, International Holding Company (IHC) has raised its stake in Adani Enterprises Ltd (AEL) to beyond 5%. The increased investment highlights IHC's trust in AEL's leading global incubation model, encompassing various sectors including Airports, Data Centers, and Green Hydrogen.

The move is seen as a testament to the potential and resilience of the projects incubated under AEL, positioning the company to maximize on India's powerful growth trajectory. IHC also stated that it remains keen on exploring more distinct investment avenues in India, with the primary aim of maximizing returns for stakeholders.

Reacting to the development, an Adani spokesperson expressed enthusiasm, stating, "IHC's decision to augment its investment in AEL reaffirms our position as a frontrunner in nurturing novel businesses, especially in the realms of sustainable infrastructure, global aviation framework, and fair energy transitions." The spokesperson also emphasized that IHC's increased stake strongly endorses AEL's capital expenditure plans, governance standards, and transparency levels. The strengthening ties between the two giants is viewed as a reflection of India’s promising growth potential, promising significant returns for all stakeholders involved.

Last week on September 28, 2023 the Abu Dhabi-based International Holding Company (IHC) announced its decision to dispose its Foreign Direct Investment (FDI) in Adani Green Energy Ltd and Adani Transmission Ltd. This move comes as part of IHC's broader portfolio rebalancing strategy.