- IHC will invest ~USD 2 billion (INR 15,400 Cr) in three green-focused companies in the Adani portfolio – AGEL, ATL and AEL
- IHC and Adani portfolio are committed to growing the business partnership across multiple strategic opportunities in India, the Middle East and Africa
International Holding Company PJSC (IHC), the Abu Dhabi based conglomerate, will invest USD 2 billion as primary capital in three Adani portfolio companies – Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL) – which are all listed on Bombay Stock Exchange (BSE) and National stock Exchange (NSE) in India, through the preferential allotment route.
Earlier today, the boards of AGEL, ATL and AEL met and approved the transaction. The investment is subject to shareholder and regulatory approvals and shall comply with SEBI regulations.
Mr Sagar Adani, Executive Director, AGEL, said “We are delighted to commence this inter-generational relationship with IHC. We 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.”
The three Adani companies – AGEL, ATL and AEL – are market leaders in their business sectors and span the Adani Group’s green portfolio. Every one of these three businesses has the core aspects of ESG woven into their operations. This investment is testament to the IHC’s and the Adani Portfolio’s shared vision and commitment of investing in sustainable companies that are leading the charge in energy transition.
Mr Syed Basar Shueb, CEO and Managing Director of IHC, said “This 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’s total green energy potential, reflecting positively on our shareholders’ commitment.”
IHC will invest INR 3,850 Cr in AGEL, INR 3,850 Cr in ATL and INR 7,700 Cr in AEL, in compliance with SEBI regulations. The transaction is expected to be completed in a month, after all necessary approvals are obtained. The capital will be utilized for pursuing the growth of the respective businesses, further strengthening of the balance sheet and for general corporate purposes.
About International Holdings Company
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE. Adhering to ‘Abu Dhabi’s Vision 2030’, the ADX listed company endeavours to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), which represents the top 15 largest and most liquid companies on the ADX. In 2021 IHC total assets reached AED 87 billion while total revenue grew 303% reaching AED 28,562 billion for the same period.
IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 30 entities, 21, 613 employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes, and new opportunities arise, IHC remains focused on resilience, innovation and redefining the marketplace for itself, its clients, and its partners.
About Adani Green Energy Limited
Adani Green Energy Limited (AGEL), is the renewable energy platform of Adani Portfolio. The company has one of the world’s largest renewable portfolios, with locked-in growth of 20.4 GW across operational, under-construction, awarded and acquired assets, catering to investment-grade counterparties. The company develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects. AGEL is focused on decarbonization of power generation and is helping India meet its sustainability goals. Mercom Capital, the US-based think tank has ranked Adani Group as the #1 global solar power generation asset owner. AGEL has also been awarded as Global Sponsor of the Year by Project Finance International (PFI) recognizing AGEL as a key driver of energy transition.
For more information, www.adanigreenenergy.com;
About Adani Transmission Limited
Adani Transmission Limited (ATL) is the transmission and distribution business arm of Adani Portfolio. ATL is the country’s largest private transmission company with a cumulative transmission network of 18,875 ckm, out of which 14,279 ckm is operational and 4,596 ckm is at various stages of construction. ATL also operates a distribution business serving about 12 million+ consumers in Mumbai. With India’s energy requirement set to quadruple in coming years, ATL is fully geared to create a strong and reliable
power transmission network and work actively towards serving retail customers and achieving ‘Power for All’ by 2022.
For more information, www.adanitransmission.com
About Adani Enterprises Limited
Adani Enterprises Limited (AEL) is the incubation arm of Adani Portfolio. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities. Having successfully built unicorns like Adani Ports & SEZ Limited, Adani Transmission Limited, Adani Power Limited, Adani Green Energy Limited, Adani Total Gas Limited and Adani Wilmar Limited, the company has contributed significantly to make the country self-reliant with our portfolio of robust businesses. AEL is leading decarbonization of industries and mobility through Adani New Industries Limited. Other next-generation of AEL’s strategic business investments are centered around airport management, roads, data center and water infrastructure which has significant scope for value unlocking.
For more information, visit: www.adanienterprises.com;
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