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New Delhi:

What Abu Dhabi’s International Holding Company (IHC) has said after the US indictment of billionaire Gautam Adani has given an answer to all the critics of Adani Group. IHC’s outlook on its investment in India’s Adani Group remains unchanged. “Our partnership with Adani Group reflects our confidence in their contribution to the green energy and sustainability sector,” IHC said in a statement. “As with all of our investments, our team continues to evaluate important information and developments. At this time, our view on these investments remains unchanged.” The company has clearly said that in the eyes of the current IHC, there has been no change in their view regarding Adani.

Last week, US authorities arrested Adani, his nephew and executive director Sagar Adani and Adani Green managing director Vineet S. Some allegations have been made against Jain. The news published in many places about Adani Group has been declared wrong.
On the allegations in America, Adani Group, which is involved in everything from ports to power generation, has called the allegations “baseless” and has said that it will take “all possible legal recourse”.

IHC’s investment in Adani

In October last year, IHC had increased its stake in Adani Enterprises to more than 5% after selling its investments in two other Adani companies. At that time IHC had said that the group’s flagship company Adani Enterprises is ready to take advantage of the opportunity of India’s strong growth journey.

It is noteworthy that the increase in investment was done after short seller Hindenburg Research in January last year accused Adani Group of stock manipulation and very high debt levels. Adani Group had denied those allegations.

Work on new project with Adani

Adani and the IHC subsidiary last year formed a technology joint venture to work on the digitalization of the Indian economy. In this, work is being done to use AI and enterprise blockchain products.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)


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