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HomeBusinessAbu Dhabi's IHC announces $400 million investment in Adani Enterprises' FPO

Abu Dhabi’s IHC announces $400 million investment in Adani Enterprises’ FPO

Adani Enterprises FPO Update: The FPO of Adani Enterprises is open for applications till January 31, 2023. But in the meantime there has been news of relief for the Adani group. Abu Dhabi International Holding Company (IHC) has said that it is going to invest $ 400 million in Adani Enterprises’ follow-on offer (Adani Enterprises FPO).

Abu Dhabi’s International Holding Company through its subsidiary Graeme Transmission Investment Holding RSC Ltd has invested in Rs 20,000 crore FPO of Adani Enterprises. That is, 16 percent of the total size of the FPO of Adani Enterprises has been subscribed by Abu Dhabi International Holding. He has the biggest investment in any company in 2023. The company said that it is continuously increasing investment in the markets of Europe, Africa, Asia and South America.

The company’s CEO Syed Basar Shueb said that our interest in Adani Group is driven by our trust and confidence in the fundamentals of Adani Enterprises. He said that we see strong potential for growth from a long-term perspective and will work to add additional value to our shareholders. He said that the specialty of the FPO of Adani Enterprises is the company’s earnings report, company’s management, business practice and the investment decision has been taken after seeing the company’s data. Abu Dhabi International Holding has the second largest investment deal in the Adani group. Last year, the company had invested $ 2 billion in Adani Green Energy, Adani Transmission, Adani Enterprises, three green focus companies of Adani Group.

However, the stock of Adani Enterprises closed at Rs 2892 on Monday with a gain of 4.76 per cent. However, it is still trading below its FPO price band of Rs 3112 to Rs 3276. On the other hand, Adani Group has categorically denied making any change in the price band of FPOs of Adani Enterprises. Adani Group has issued a statement saying that there has been no change in the scheduled time and price band of the FPO of Adani Enterprises.


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