Dubai-based IHC’s arm sells stake in Adani Enterprises
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MUMBAI: Dubai-based IHC’s arm has sold 84.49 lakh shares in Adani Enterprises for around Rs 1,800 crore, according to a filing. The sale was executed through two entities — Green Vitality RSC and Green Energy Investment Holding RSC. The stake has been acquired by Envestcom Holding RSC. Envestcom holds stakes in other Adani companies such as Adani Energy Solutions and Adani Total Gas. As of December 2024, Envestcom Holding held 55,200,000 shares in Adani Energy Solutions, representing a 4.60% stake and 54,593,600 shares in Adani Total Gas, representing a 4.964% in the company. As of the latest available data, Green Enterprises Investment Holding holds 4,01,91,038 shares in Adani Enterprises, representing a 3.48% stake in the company. In 2022, IHC invested approximately $2 billion in three Adani Group companies: Adani Green Energy, Adani Transmission, and Adani Enterprises. According to reports, in September 2023, IHC, the UAE's largest...