IHC Divests Stake in Adani Energy Solutions: A Strategic Move

Abu Dhabi's International Holding Company (IHC) divested a 1.83% stake in Adani Energy Solutions Ltd (AESL) on Wednesday, netting roughly Rs 1,737 crore. This transaction, involving 2.2 crore shares through Envestcom Holding, marks another strategic shift in IHC's investment portfolio.

The shares fetched an average of Rs 790 each, bringing the total deal value close to Rs 1,736.73 crore. Subsequent to this sale, IHC's Envestcom Holding has reduced its stake in AESL to 0.85% from its previous 2.68% holding. The identity of the buyers remains undisclosed in the stock exchanges records.

Having previously offloaded Adani Enterprises shares in March, IHC continues to refine its investment strategy in the Adani Group. Despite reducing stakes in other Adani holdings, IHC has increased its ownership in Adani Enterprises to over 5%, reaffirming its commitment to select Adani ventures.

(With inputs from agencies.)