IHC increases stake in Adani Enterprise Ltd to over 5% after

A prominent member of the emirate's royal family, based in Abu Dhabi, has recently raised its ownership in Gautam Adani's leading conglomerate to just over 5%. This action follows the company's decision to divest its investments in two other businesses owned by the Indian billionaire, as part of a strategic portfolio restructuring.

International Holding Co. (IHC), together with its subsidiaries, has recently obtained an additional 0.06% stake in Adani Enterprises Ltd., resulting in a total ownership of 5.04%, according to an official filing. Previously, IHC's Green Vitality Rsc Ltd. and Green Enterprises Investment Holding Rsc Ltd. held a 4.55% stake in Adani Enterprises for the quarter ending June.

In 2022, the company made a significant investment of nearly $2 billion in three Adani enterprises. Recently, IHC has decided to sell its investments in Adani Green Energy Ltd. and Adani Transmission Ltd., now known as Adani Energy Solutions Ltd. Nonetheless, it strongly emphasizes its steadfast commitment to its partnership with Adani and its unwavering dedication to the Indian market.

IHC affirmed on Tuesday that its decision to enhance its stake in Adani Enterprises is a clear indication of its trust in the firm's capability to effectively foster new ventures. Adani Enterprises serves as the parent company for an extensive conglomerate, including ports, power, airports, data centres, and media, among other sectors.

In response to a critical evaluation from a short seller in January, the Adani conglomerate has been diligently making efforts to regain investor confidence. They have focused on reducing their debt and successfully attracting significant investments from esteemed global companies such as Rajiv Jain’s GQG Partners and TotalEnergies SE.

IHC

IHC, a massive conglomerate with a valuation of $236 billion, is led by United Arab Emirates National Security Adviser, Sheikh Tahnoon bin Zayed Al Nahyan. Moreover, Sheikh Tahnoon oversees two of the emirate's wealth funds — the Abu Dhabi Investment Authority and ADQ.