Abu Dhabi – Mubasher: International Holding Company (IHC) has signed an agreement to invest AED 7.3 billion ($2 billion) in three green-focused companies in Adani Group's portfolio.
Listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India, the three companies are Adani Green Energy (AGEL), Adani Transmission (ATL), and Adani Enterprises (AEL), according to a recent press release.
Subject to regulatory approvals and SEBI regulations, IHC will invest AED 1.83 billion ($500 million) in AGEL, AED 1.83 billion ($500 million) in ATL, and AED 3.67 billion ($1 billion) in AEL.
The Executive Director of AGEL, Sagar Adani, said: "This is a landmark transaction and marks a start of a wider relationship between Adani Group and IHC and attracting further investment from UAE into India."
The CEO and Managing Director of IHC, Syed Basar Shueb, commented: "This will be a long-term investment in India as the country is driving much innovation globally, including the green energy sector."
