Abu Dhabi-based IHC to sell stake in Adani units

By Shilpa Annie Joseph, Official Reporter
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Abu Dhabi-based IHC Capital Holding has stated that it will dispose of its investment in Adani Green Energy and Adani Energy Solutions (formerly Adani Transmission).

“Green Energy Investment Holding RSC and Green Transmission Investment Holding RSC, have entered into a definitive agreement with a buyer to dispose of their FDI investments in Adani Green Energy and Adani Transmission, respectively,” the investment firm said in an exchange filing.

The decision is part of the overall portfolio rebalancing strategy of IHC, it said. The company is currently completing all required procedures and obtaining all necessary regulatory approvals to implement the signed transaction.

According to Bombay Stock Exchange data, Green Energy Investment Holding has a 1.26 percent stake in Adani Green Energy, while Green Transmission Investment Holding holds a 1.41 percent stake in Adani Energy Solutions.

IHC, which is the United Arab Emirates’ largest publicly traded company, valued at over $235.98 billion, did not provide details about the buyer or the scale of the investment being sold, as per the reports.

Earlier this year, IHC revealed plans to invest $400 million into the Adani Enterprises Further Public Offering (FPO), the Indian multinational publicly listed holding company and a part of Adani Group, through its subsidiary Green Transmission Investment Holding RSC.

In 2022, the Adani Group secured a $2 billion investment from IHC as primary capital, which was distributed across three Adani Group companies. This investment included $463 million each in Adani Green Energy and Adani Energy Solutions.

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