Latest News | IHC Raises Stake in Adani Enterprises to over 5 Pc

New Delhi, Oct 3 (PTI) Days after selling its stake in two of Adani group companies, Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday said it has raised stake in the group's flagship Adani Enterprises Ltd to above 5 per cent.

In a filing to Abu Dhabi stock exchange, IHC said, "This strategic increase reflects IHC's conviction in the world leading incubation model of AEL."

Also Read | Lal Bahadur Shastri Birth Anniversary 2023: Interesting Facts About Former Prime Minister of India Who Gave ‘Jai Jawan, Jai Kisan’ Slogan.

Stating it has increased its stake in AEL to above 5 per cent, it said it believes that "the inherent strength of airports, data centres, green hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalise on India's robust growth journey."

"IHC continues to explore unique investment opportunities in India with the goal to maximise stakeholders' return," it added.

Also Read | Gandhi Jayanti 2023: Interesting Facts About ‘Father of Nation’ Mahatma Gandhi on His 154th Birth Anniversary.

Last week, IHC had stated that as part of a "portfolio rebalancing strategy" it will sell its 1.26 per cent stake in Adani Green Energy Ltd and 1.41 per cent stake in Adani Energy Solutions.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)