After dumping Adani Green + Adani Energy, IHC ups stake in Adani Enterprises: Abu Dhabi's International Holding Company (IHC) raised its stake in Adani Enterprises (AEL) to more than 5% to explore further investment options in India, the company said in an ADX filing. This comes around a week after IHC offloaded its minority stake in Adani Green Energy and Adani Energy Solutions to an undisclosed buyer. No financial details were disclosed in the filing.

What they said: IHC said it believes in “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,” the filing read. “[This] further validates AEL's standing as a global leader in incubating new businesses, particularly in sustainable infrastructure, developing global aviation infrastructure and equitable energy transition,” said Adani Enterprises in its own Bombay Stock Exchange filing.

Refresher- IHC has been eyeing a stake in Adani Enterprises since January, when it announced its intention to invest USD 400 mn in the USD 2.45 bn (INR 200 bn) secondary offering of Adani Enterprises. Adani Group has seen major drops in its share prices after the publication of a report by investment research firm and short seller Hindenburg Research, which leveled allegations of fraud and unsustainable debt at Adani Group.