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