Days after selling its stake in two of Adani group companies, Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday said it has raised stake in the group’s flagship Adani Enterprises Ltd to above 5 per cent.
In a filing to Abu Dhabi stock exchange, IHC said, “This strategic increase reflects IHC’s conviction in the world leading incubation model of AEL.”
Stating it has increased its stake in AEL to above 5 per cent, it said it believes that “the inherent strength of airports, data centres, green hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalise on India’s robust growth journey.”
“IHC continues to explore unique investment opportunities in India with the goal to maximise stakeholders’ return,” it added.
Last week, IHC had stated that as part of a “portfolio rebalancing strategy” it will sell its 1.26 per cent stake in Adani Green Energy Ltd and 1.41 per cent stake in Adani Energy Solutions.
Cricket West Indies has appointed Roston Chase as the new Test captain ahead of the…
In a stunning admission, Pakistan PM Shehbaz Sharif confirmed that India’s Operation Sindoor struck the…
Prime Minister Narendra Modi congratulated javelin star Neeraj Chopra for breaching the 90-metre mark at…
HM Amit Shah will visit Gujarat for two days to inaugurate major development projects in…
The Supreme Court on Friday refused to grant anticipatory bail to retired IAS officer K…
Vodafone Idea (Vi) has officially confirmed the launch of its 5G services in Delhi from…