Abu Dhabi’s International Holding Company (IHC) has increased its stake in Adani Enterprises Ltd (AEL) by 0.06% to reach a total holding of 5.04%, according to an exchange filing on Tuesday. This move follows IHC’s recent decision to divest its stakes in Adani Green Energy and Adani Transmission.
The estimated value of the 0.06% stake increase is approximately ₹153.6 crore, based on the volume-weighted average price of Adani Enterprises on Tuesday.
In a statement to the Abu Dhabi stock exchange, IHC explained that this strategic increase in its stake reflects its conviction in Adani Enterprises’ world-leading incubation model. It also highlighted the inherent strength of Adani Enterprises’ diversified businesses, including airports, data centers, green hydrogen, and others. IHC expressed confidence in Adani Enterprises’ ability to capitalize on India’s robust growth trajectory. The company stated that it remains committed to exploring unique investment opportunities in India with the aim of maximizing returns for its stakeholders.
Adani Enterprises responded positively to IHC’s increased stake, considering it a “ringing endorsement” of the group’s robust capital expenditure plans, governance, and transparency.
Last week, IHC had announced its intention to sell its 1.26% stake in Adani Green Energy Ltd and its 1.41% stake in Adani Energy Solutions. This move was described as part of a “portfolio rebalancing strategy.”
During the June quarter, IHC’s subsidiaries, Green Vitality Rsc Ltd. and Green Enterprises Investment Holding Rsc Ltd., collectively held a 4.55% stake in Adani Enterprises. Shares of Adani Enterprises closed 1.02% lower at ₹2387.55 apiece on the BSE on Tuesday.
The increased stake by Abu Dhabi’s IHC comes amid a resurgence of global investor interest in the Adani Group. In January, the conglomerate faced allegations from short-seller Hindenburg Research, which had raised concerns. However, recent investments suggest a renewed confidence in the Adani Group’s prospects.
In the past month, French oil major Total Energies invested $300 million in Adani Green Energy to establish a joint venture for the development of wind and solar farms. The Qatar Investment Authority (QIA), a sovereign wealth fund, also invested $500 million to acquire a 2.7% stake in Adani Green Energy.
In August, investment firm GQG Partners acquired an 8.1% stake in Adani Power for $1.1 billion through block deals. These investments signal growing international interest in India’s clean energy and infrastructure sectors.
Adani Enterprises continues to diversify its business portfolio and expand its presence in key sectors, including renewable energy, airports, and data centers. The increased stake by IHC reflects confidence not only in Adani Enterprises but also in India’s economic growth and investment potential.
