Abu Dhabi’s IHC plans to invest $381 million in Adani Group

NEW DELHI: Abu Dhabi Group International Joint Stock Company (emergency hospital) on Monday said it would invest 1.4 billion dirhams ($381.17 million) in Adani Enterprises’ next public offering, Reuters reported.
“Our concern for Adani Corporation driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; We see strong growth potential from a long-term perspective and add value for our shareholders,” IHC CEO Syed Basar Shueb said in a statement.

IHC invested $2 billion in Adani Group companies last year, including Adani Enterprises.
The development takes place in the context of short sellers in the US Hindenburg’s study leveled out serious allegations of stock manipulation by the group led by Gautam Adani.

The allegation was completely denied by the Adani Group, which called it an attack on India and its institutions.
Adani Enterprises is looking to raise $2.5 billion with its FPO. It had said earlier that it would go ahead with its offer despite the report.
(With input from Reuters)


News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button