Abu Dhabi conglomerate invests almost $2 billion in Indian tycoon’s businesses – News


Three of billionaire Gautam Adani’s companies will issue preferential shares to IHC



By Web Desk

Published: Fri 8 Apr 2022, 11:30 AM

Last updated: Fri 8 Apr 2022, 12:05 PM

Abu Dhabi-based International Holding Company has invested almost $2 billion in three companies owned by Indian tycoon Gautam Adani.

According to Bloomberg, Adani Enterprises Ltd will raise 77 billion rupees by issuing preferential shares to the Emirati public joint-stock company.

IHC will also receive 38.5 billion rupees worth of preferential shares in Adani Green Energy Ltd and Adani Transmission Ltd.

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Led by the richest man in Asia, the Adani group seeks to invest as much as $70 billion in the green energy value chain over the next 10 years. Deals to this effect are expected to be completed in one month after getting all the necessary approvals.





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