PHOTO
Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad REUTERS/Amit Dave
The Abu Dhabi-based IHC Capital Holding has sold more than 8.4 million shares in India’s Adani Enterprises for 18.32 billion rupees ($210 million) through open market transactions.
Shares in the publicly listed Indian multinational, which is the flagship company of beleaguered Indian tycoon Gautam Adani’s Adani Group, were sold through IHC’s subsidiaries, Green Vitality RSC and Green Energy Investment Holding RSC, according to block deal data on the BSE (Bombay Stock Exchange).
The 8.48 million shares constitute to a 0.73% stake in Adani Enterprises, data revealed.
Shares were sold on Wednesday at an average price of INR 2,168.10 apiece.
On the same day, Envestcom Holding RSC, an Abu Dhabi-based private entity, which also holds a stake in Adani Total Gas and Adani Energy Solutions according to LSEG data, bought shares amounting to 8.44 million in Adani Enterprises for a similar price per share.
Gautam Adani has been in the news following a US court indictment in November accusing him of bribing Indian officials to buy electricity produced by Adani Green Energy.
The Adani Group called the charges “baseless”.
(Reporting by Bindu Rai, editing by Seban Scaria)
