Abu Dhabi's IHC to invest $400 million in Adani Enterprises' FPO

[walterbibikow]

Abu Dhabi's International Holding Company (IHC) on January 30 said it will invest $400 million in Adani Enterprises' ongoing Rs 20,000-crore follow-on public offer (FPO) via its subsidiary Green Transmission Investment Holding RSC Limited.

IHC, one of Abu Dhabi's most valuable listed companies, was an investor in Adani Enterprises' share offering's anchor book as well.

"Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders," said Syed Basar Shueb, Chief Executive Officer, IHC in the company's press release.

The transaction will be subject to the completion of all necessary procedures post all the regulatory approvals are obtained, IHC added.

This will be the second investment deal IHC has completed with Adani Group after last year's $2 billion investment in three green-focused companies of the Adani Group, including Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on Indian exchanges.

"The advantage of the FPO is the historical reference for the company's earnings report, company's management, business practices, and much data to bank on before making any investment decision," Shueb explained.

"We are watching the international market closely for new prospects, and we will continue exploring further opportunities outside our traditional market in 2023," Shueb added.

IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE. The company has a market value of about Dh882 billion as of Friday and has been rapidly expanding its operations globally, through acquisitions and joint investments.

Meanwhile, the FPO by Adani Enterprises has managed to garner bids for 1.39 million shares against its offer size of 45.5 million shares, representing a 3 percent subscription so far on January 30, the second day of the sale.

Shares of Adani Enterprises today (January 30) closed 4.21 percent higher at Rs 2,878.50 apiece on BSE.

IHC's investment comes amid severe hammering of the Indian conglomerate's stocks following a scathing report by a US-based short seller Hindenburg Research.

Despite that, Gautam Adani's group has expressed confidence that FPO "will sail through."

Group CFO Jugeshinder Singh said no change in offering price or schedule is being considered due to temporary volatility in the market as the FPO of Adani Enterprises Ltd is the best vehicle for strategic institutional investors to own a pie of the conglomerate's fast-expanding airports, mining, roads, new energy and data centre businesses.

In its two-year-long investigation, Hindenburg Research alleged that the ports-to-energy-to-cement conglomerate had engaged in ''brazen stock manipulation and accounting fraud'' for decades.

The report by the New York firm that specialises in short selling led to Adani Group losing more than $50 billion in market value in just two trading sessions last week and Adani himself losing in excess of $20 billion, or about one-fifth of his total fortune.

Abu Dhabi's IHC to invest $400 million in Adani Enterprises' FPO

IHC, one of Abu Dhabi's most valuable listed companies, was an investor in Adani Enterprises' share offering's anchor book as well.

www.moneycontrol.com

 

[Pranaayam]

Damn I thought of buying Adani ports tomorrow (about 1000 stocks), now it seems they will open high.

 

[Hecig]

One guy shorting the market, other guy taking a Long position.

Either way, BOTH are betting on Adani.

As they saying goes, you can either love him or hate him, you just can't Ignore him.

 

[brational]

Somewhere in earth, a Kanglu is crushing his bangles. Grasshoppers are probably crying rivers after reading the news. Ya Allah Reham!

 

[Thəorətic Muslim]

One guy shorting the market, other guy taking a Long position.

Noone competent is long shorting the stock. Most 90%+ of the company is owned by Adani and his close associates.

 

[karmaa]

View attachment 914118
Abu Dhabi's International Holding Company (IHC) on January 30 said it will invest $400 million in Adani Enterprises' ongoing Rs 20,000-crore follow-on public offer (FPO) via its subsidiary Green Transmission Investment Holding RSC Limited.

IHC, one of Abu Dhabi's most valuable listed companies, was an investor in Adani Enterprises' share offering's anchor book as well.

"Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders," said Syed Basar Shueb, Chief Executive Officer, IHC in the company's press release.

The transaction will be subject to the completion of all necessary procedures post all the regulatory approvals are obtained, IHC added.

This will be the second investment deal IHC has completed with Adani Group after last year's $2 billion investment in three green-focused companies of the Adani Group, including Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on Indian exchanges.

"The advantage of the FPO is the historical reference for the company's earnings report, company's management, business practices, and much data to bank on before making any investment decision," Shueb explained.

"We are watching the international market closely for new prospects, and we will continue exploring further opportunities outside our traditional market in 2023," Shueb added.

IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE. The company has a market value of about Dh882 billion as of Friday and has been rapidly expanding its operations globally, through acquisitions and joint investments.

Meanwhile, the FPO by Adani Enterprises has managed to garner bids for 1.39 million shares against its offer size of 45.5 million shares, representing a 3 percent subscription so far on January 30, the second day of the sale.

Shares of Adani Enterprises today (January 30) closed 4.21 percent higher at Rs 2,878.50 apiece on BSE.

IHC's investment comes amid severe hammering of the Indian conglomerate's stocks following a scathing report by a US-based short seller Hindenburg Research.

Despite that, Gautam Adani's group has expressed confidence that FPO "will sail through."

Group CFO Jugeshinder Singh said no change in offering price or schedule is being considered due to temporary volatility in the market as the FPO of Adani Enterprises Ltd is the best vehicle for strategic institutional investors to own a pie of the conglomerate's fast-expanding airports, mining, roads, new energy and data centre businesses.

In its two-year-long investigation, Hindenburg Research alleged that the ports-to-energy-to-cement conglomerate had engaged in ''brazen stock manipulation and accounting fraud'' for decades.

The report by the New York firm that specialises in short selling led to Adani Group losing more than $50 billion in market value in just two trading sessions last week and Adani himself losing in excess of $20 billion, or about one-fifth of his total fortune.

Abu Dhabi's IHC to invest $400 million in Adani Enterprises' FPO

IHC, one of Abu Dhabi's most valuable listed companies, was an investor in Adani Enterprises' share offering's anchor book as well.

www.moneycontrol.com

they will face some setback because of hindenberg report .

 

[kmc_chacko]

Damn I thought of buying Adani ports tomorrow (about 1000 stocks), now it seems they will open high.

You can also go short as of now

 

[JohnyD]

Adani will shine until modi is in power no matter how manipulated their stock prices are...ppl are investing (gambling) on modi and not on adani

 

[Laozi]

Money from one of his shell companies being routed through the Dalal IHC in return for 10% commission , only gaushala educated will be fooled by this.

Gaushala educated is believing that Adani has enough money to invest and has another 10% spare to give commission. Still he believes that he is decently educated.

 

[datafreak]

Adani will shine until modi is in power no matter how manipulated their stock prices are...ppl are investing (gambling) on modi and not on adani

No he's full of jhol but he's no fool. Behind the scenes he is backing up his business with real capabilities.

He pulled thi $hit off last week. He can now built entire solar panels including the silicon. And further refinements he can actually supply silicon wafers for fabs. He is not to be underestimated.

 

[Laozi]

400 million is actually peanuts for him, you are worse than gaushala educated , CCP educated perhaps, want some flied lice?

looks like you shorted and getting worried

 

[Laozi]

I didn’t, but it it was straightforward enough, i wud put every penny i have into it. Since this is an Indian stock, not as easy as clicking sell on your brokerage platform, Hindenberg did some things with bonds and derivative instruments to establish a short position.

Hidenberg shorted naked. It openly claimed it. In India naked short-selling is permissible in specific F&O stocks. Adani enterprises is a listed stock in that category.

 

[1ndy]

Habibi comes to rescue weak Hindus from Christian's attack on India.

 

[walterbibikow]

Temasek remains invested in Adani Ports, says media report

Singapore investor, Temasek Holdings (Private) Limited, remains invested in Adani Ports and Special Economic Zone even though the Indian conglomerate is facing criticism from a US-based forensics research institution, according to a media report.

Temasek “remains invested in Adani Ports, as per their latest public shareholding disclosures", The Straits Times reported on Monday, citing a spokesman for the 49-year-old state-owned investor which has USD 496.59 billion in assets under management as of December 2022.

Temasek, through its subsidiary Camas Investments, owns just over 1.2 per cent in Adani Port, the Singapore broadsheet reported, citing the company’s shareholder information.

The stake was acquired in 2018 for around SGD 147 million.

The Temasek spokesman also said the group does not comment on market speculation.

The Adani Group also runs an edible oil and food business in India called Adani Wilmar via a joint venture with Singapore-listed Wilmar International.

The Group has had a presence in Singapore for over 20 years, and Adani Singapore is the headquarters for operations in the Southeast Asia region, according to earlier media reports.

Media has also reported the Adani Group’s talks with Singapore investors, including Temasek and the Government Investment Corp (GIC), to raise USD 10 billion to fund its USD 100 billion expansion over the next decade, USD 70 billion of which would be for clean energy, ports and cement businesses.

Group Chairman Gautam Adani had addressed the Forbes Asia’s conference in Singapore on September 27, 2022, listing out his ambitious investment plans.

In his speech to the conference, he highlighted the growing global confidence in India, saying, “I expect the flow of FDI into India to further accelerate and rise above USD 500 billion over the next 15 years, making India by far the world’s fastest-growing destination for FDI."

On Sunday, the Adani Group rebutted allegations by the New York-based forensics research firm, Hindenburg Research about stock manipulation and accounting fraud.

Temasek remains invested in Adani Ports, says media report

Temasek, through its subsidiary Camas Investments, owns just over 1.2 percent in Adani Port

www.livemint.com