Three of the Gautam Adani Group companies- Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL) have received major investments. This investment will be done by Abu Dhabi-based International Holding Company PJSC (IHC). The investment amount will be $2 billion.
How much investment in which company: The Abu Dhabi-based company will invest Rs 3,850 crore in Adani Green Energy, Rs 3,850 crore in Adani Transmission and Rs 7,700 crore in Adani Enterprises. The board of all three companies of the Adani group has given approval for this investment. Now after all necessary approvals are received, the transaction is expected to be completed in a month.
Where will it be used: Adani Enterprises has informed in a stock exchange that the capital will be used for furthering the growth of the respective businesses, further strengthening the balance sheet, besides for general corporate purposes. According to the company, the investment is subject to shareholder and regulatory approvals and will comply with SEBI norms.
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Increased buying of shares: Amidst the news of investment, buying of shares of all three companies of Adani Group increased. Adani Enterprises stock rose up to 3 per cent in the afternoon trade on Friday. The share price is above Rs 2155. While the share of Adani Transmission registered a rise of 2.30 percent, the share of Adani Green reached a 52-week high. The share price went up to Rs 2,350, which is an increase of over 7 per cent.