Abu Dhabi-based conglomerate International Holding Company PJSC (IHC) will invest $2 billion as primary capital in three Adani portfolio companies – Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL), through the preferential allotment route.
IHC will invest ₹3,850 crore in Adani Green, ₹3,850 crore in Adani Transmission and ₹7,700 crore in Adani Enterprises. The transaction is expected to be completed in a month, after all necessary approvals are obtained.
The capital will be utilized for pursuing the growth of the respective businesses, further strengthening of the balance sheet and for general corporate purposes, Adani Enterprises announced in an exchange filing.
Earlier today, the boards of AGEL, ATL and AEL met and approved the transaction. The investment is subject to shareholder and regulatory approvals and shall comply with SEBI regulations.
“This investment is testament to the IHC’s and the Adani Portfolio’s shared vision and commitment of investing in sustainable companies that are leading the charge in energy transition," the Adani Group companies' stated.
Earlier this week, Adani Enterprises, Adani Transmission and Adani Green Energy informed the stock exchanges that their boards will meet on April 8, 2022 to evaluate the proposal for raising funds.
