Abu Dhabi-based conglomerate International Holding Company will invest USD 2 billion in three green-focused companies in the Adani Group through preferential share allotment. \u201cIHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd (AEL),\u201d the group led by billionaire Gautam Adani said in a statement. It, however, did not say how much equity will IHC pick up in the three firms.
\nThe boards of AGEL, ATL and AEL met and approved the transaction on Friday.<\/p>\n
The investment is subject to shareholder and regulatory approvals and shall comply with the Sebi regulations.\u201dIHC and Adani portfolio are committed to growing the business partnership across multiple strategic opportunities in India, the Middle East and Africa,\u201d the group said.<\/p>\n
Sagar Adani, Executive Director, AGEL, said, \u201cWe are deeply committed to the shared vision and values of investment in sustainable infrastructure, green energy and energy transition. This is a landmark transaction and marks a start of a wider relationship between the Adani Group and IHC and attracting further investment from UAE into India\u201d.<\/p>\n
The three Adani companies \u2013 AGEL, ATL and AEL \u2013 are market leaders in their business sectors and span the Adani Group\u2019s green portfolio. Every one of these three businesses has the core aspects of ESG woven into their operations. This investment is a testament to the IHC\u2019s and the Adani Portfolio\u2019s shared vision and commitment to investing in sustainable companies that are leading the charge in the energy transition.<\/p>\n
Syed Basar Shueb, CEO and Managing Director of IHC, said, \u201cThis will be a long-term investment in India as the country is driving much innovation globally, including the green energy sector. The opportunity to earn a compelling return on investment in green energy has never been greater. We are confident that Adani companies will play a significant role in unleashing India\u2019s total green energy potential, reflecting positively on our shareholders\u2019 commitment\u201d.<\/p>\n
The transaction is expected to be completed in a month after all necessary approvals are obtained. The capital will be utilised for pursuing the growth of the respective businesses, further strengthening the balance sheet and for general corporate purposes.While AGEL is a renewable energy firm with a portfolio of 20.4 GW, ATL is the transmission and distribution business arm with a cumulative transmission network of 18,875 circuit kilometres. AEL is the incubation arm that is focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities.<\/p>\n","protected":false},"excerpt":{"rendered":"
Abu Dhabi-based conglomerate International Holding Company will invest USD 2 billion in three green-focused companies in the Adani Group through preferential share allotment. \u201cIHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd (AEL),\u201d the group led by billionaire Gautam Adani said in a statement. It, however, did not say how much equity will IHC pick up in the three firms. The boards of AGEL, ATL and AEL met and approved the transaction on Friday. The investment is subject to shareholder and […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-483479","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=483479"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/483479\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=483479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=483479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=483479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}