PJSC will invest $2 bn in Adani Group’s Green Portfolio

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PJSC will invest $2 bn in Adani Group’s Green Portfolio
08 Apr 2022
6 min read

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News Synopsis

The Abu Dhabi-based, International Holding Company PJSC (IHC), informed that it will invest $2 billion in three companies of the India-based Adani Group. These three companies are Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL), and Adani Enterprises Ltd (AEL). All of them are listed on the Indian bourses. While complying with the SEBI regulations, IHC will invest Rs 3,850 crore in AGEL, Rs 3,850 crore in ATL, and Rs 7,700 crore in AEL. 

 

This investment will be completed in a month after obtaining all necessary approvals. These funds will be used to fuel the growth of the respective businesses, strengthen the balance sheet, and for general corporate purposes. Executive Director of AGEL, Sagar Adani said: “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.” Today the Board of all three companies approved the transaction. However, the investment is subject to shareholder and regulatory approvals and should comply with SEBI regulations. At the Investment, 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."

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