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Home Sustainability ESG

ESG: International Holding Company to invest Rs. 15,400 Cr  in Adani Group’s green portfolio

IHC will invest Rs. 15,400 Cr in three green-focused companies in the Adani portfolio – AGEL, ATL and AEL. IHC and Adani portfolio are committed to growing the business partnership across multiple strategic opportunities in India, the Middle East and Africa

by India CSR Network
3 months ago
in ESG
Adani Ports waives charges for ships carrying COVID equipment

Visakhapatnam (India CSR): International Holding Company PJSC (IHC), the Abu Dhabi based group, will invest USD 2 billion as primary capital in three Adani portfolio companies – Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL), and Adani Enterprises Ltd (AEL) – which are all listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India, through the preferential allotment route, the company said.

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.

Sagar Adani, Executive Director, AGEL, said “We are delighted to commence this inter-generational relationship with IHC. We are deeply committed to the shared vision and values of investment in sustainable infrastructure, green energy and energy transition. This is a landmark transaction and marks a start of a wider relationship between The Adani Group and IHC and attracting further investment from UAE into India.”

The three Adani companies – AGEL, ATL and AEL – are market leaders in their business sectors and span the Adani Group’s green portfolio. Every one of these three businesses has the core aspects of ESG woven into their operations. This investment is a testament to the IHC’s and the Adani Portfolio’s shared vision and commitment to investing in sustainable companies that are leading the charge in the energy transition.

Syed Basar Shueb, CEO and Managing Director of IHC, said “This will be a long-term investment in India as the country is driving much innovation globally, including the green energy sector. The opportunity to earn a compelling return on investment in green energy has never been greater. We are confident that Adani companies will play a significant role in unleashing India’s total green energy potential, reflecting positively on our shareholders’ commitment.”

IHC will invest Rs 3,850 Cr in AGEL, Rs. 3,850 Cr in ATL and Rs 7,700 Cr in AEL, in compliance with SEBI regulations. 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 the balance sheet and for general corporate purposes, the company said.

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India CSR is the largest tech-led platform for information on CSR and sustainability in India offering diverse content across multisectoral issues. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting. To enjoy the premium content, we invite you to subscribe it.

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