Investment management company IHC through its affiliated and Vestcom Holding RSC LTD has discharged almost 2.2 shares of CRORE shares, which represents an interest of 1.83 percent in Adani Energy Solutions LTD (AELS), according to the Bulk Deal data available on the BSE and NSE.
The shares were sold at an average price of RS 790 each, so that the combined deal value was taken to RS 1,736.73 Crore.
After the sale of interest, the shareholding of envestcom Holding in AELS fell to 0.85 percent of 2.68 percent.
Details of the shares of the buyers of the shares of Adani Energy Solutions could not be determined at the stock markets.
In March of this year, IHC sold 84,49 Lakh shares in Adani Enterprises for approximately RS 1,800 Crore. The sale was carried out through its two entities – Green Vitality RSC and Green Energy Investment Holding RSC. However, the interest was obtained by another arm of IHC and Vestcom with RSC. IHC Through his affiliated companies, interests in Adani companies such as Adani Total Gas, AELS and the flagship company Adani Enterprises.
In 2022 IHC invested 2 billion in Adani Green Energy, Adani Transmission and Adani Enterprises around USD. According to reports, IHC announced in September 2023 that his subsidiaries had agreed to sell their investments in Adani Green Energy and Adani Energy Solutions.
In October 2023, however, IHC, based in Abu Dhabi, increased its interest in Adani Enterprises to more than 5 percent, just after leaving the other two group companies.
IHC was founded in 1999 and is the most valuable holding company in the Middle East, with a market capitalization of AED 879.6 billion (USD 239.3 billion).
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