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Abu Dhabi-based IHC raises stake in Adani Enterprises

Abu Dhabi-based IHC raises stake in Adani Enterprises
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Abu Dhabi – Mubasher: International Holding Company (IHC) has increased its stake in Adani Enterprises Limited (AEL) to more than 5%, according to a bourse statement.

IHC underlined that the strategic increase reflects its strength of Airports, Data Centers, Green Hydrogen, and various other verticals being incubated under AEL.

Meanwhile, the ADX-listed firm aims to explore key investment opportunities in India with the goal of enlarging the stakeholders’ return.

Earlier in January 2023, IHC unveiled plans to invest AED 1.40 billion ($400 million) in AEL, which marked the second investment deal between Adani Group and the UAE company.

In the first half (H1) of 2023, the net profits of IHC increased to AED 10.39 billion from AED 10.35 billion during the same period in 2022.