Mumbai : Abu Dhabi-based International Holding Company (IHC) on Monday announced its first investment of the year AED 1.4 billion (USD 400 million) or Rs.3200 crore in Adani Enterprises Further Public Offering (FPO) through its subsidiary Green Transmission Investment Holding RSC Limited. The move comes as part of IHC strategy to increase the company’s global acquisitions activities by 70% in 2023. “Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders,” said Syed Basar Shueb, Chief Executive Officer, IHC.
IHC’s first investment of the year comes as the company continues to scale and diversify its investments locally and internationally, focusing on Europe, Africa, Asia, and South America Markets in 2023.
This is the second investment deal International Holding Company has completed with India’s Adani Group after last year’s Dh7.3 billion (USD 2bn) investment in three green-focused companies of the Adani Group, including Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on the Bombay Stock Exchange and National Stock Exchange of India.