BENGALURU: As part of its rebalancing strategy, Abu Dhabi-based IHC Capital Holding LLC on Thursday said it will dispose of its investment in Adani Green Energy Ltd and Adani Energy Solutions Ltd (formerly Adani Transmission Ltd).
According to a sources aware with the development, IHC has a total exposure of $2.4 billion in the Adani Group and they are just encashing $350/400 million by selling a stake in the two firms. This was not confirmed by the Abu Dhabi based company.
Adani group had last year announced a $2 billion investment from IHC in three Adani group companies, which included investments of $463 million each in Adani Green and Adani Energy Solutions. IHC Capital’s subsidiaries, Green Energy Investment Holding RSC Ltd and Green Transmission Investment Holding RSC Ltd, have entered into a definitive agreement with a buyer to dispose of their FDI investments in the two Adani firms, the company said in a statement.
IHC is currently completing all required procedures and obtaining all necessary regulatory approvals to implement the signed transaction Green Energy Investment holds a 1.26% stake in Adani Green Energy while Green Transmission Investment holds a 1.41% stake in Adani Energy Solutions.