Abu Dhabi-based IHC increases stake in Adani Enterprises to over 5%

Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday said it had increased its stake in Adani Enterprises (AEL) to more than 5 per cent. The move comes barely a week after the UAE-based company exited Adani Green and Adani Transmission by selling its entire holding.

“This strategic increase reflects IHC’s conviction in the world leading incubation model of AEL and we believe that the inherent strength of airports, data centres, green hydrogen, and various other verticals being incubated under AEL,” IHC said in a statement.