International Holding Company (IHC) has increased its stake in incubator Adani Enterprises (AEL) to above 5% as it looks to capitalise on AEL’s potential in green hydrogen among other sectors.
In a short investor announcement to the Abu Dhabi Securities Exchange, IHC said, “This strategic increase reflects IHC’s conviction in the world leading incubation model of AEL and we believe that the inherent strength of airports, data centers, 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.”
The move marks a portfolio re-jig after IHC offloaded stakes in two other group companies. The Abu Dhabi conglomerate recorded a solid revenue growth of 78% last year, resulting in AED32.6bn net profit.
Tahnoon bin Zayed Al Nahyan, Chairman, said, “By continuing to invest in our existing and new business sectors, we foresee that there are wide-ranging, financially attractive opportunities for IHC as we take a holistic approach to investing in the global market.”
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