After exiting two Adani firms, IHC raises stake in Adani Enterprises to 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.

IHC raised its stake from 4.98 per cent to 5.04 per cent through open market purchase, according to a stock exchange filing by AEL.

IHC separately said, "This strategic increase reflects IHC's conviction in the world leading incubation model of AEL." Stating it has increased its stake in AEL to above 5 per cent, IHC 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.