The Abu Dhabi Investment Authority’s (ADIA’s) ongoing investment spree in India continues as it emerges as an anchor investor in Premier Energies ahead of the company’s initial public offering (IPO). The Indian solar panel and cell manufacturer raised 8.46 billion rupees ($100.8 million) with ADIA taking a 4.5% stake, amounting to INR 379.5 million. Other key investors include Nomura Funds Ireland India Equity Fund and the Government Pension Fund Global. The IPO will allocate shares in segments such as Qualified Institutional Buyers (QIB), non-institutional investors (NII), and retail investors, with the premium per equity share set between INR 427 and INR 450. ADIA’s major investment in Premier Energies underscores its broader Indian investment strategy; the fund has injected over $1 billion into the South Asian economy in the first half of 2024, targeting sectors such as real estate, warehousing, and startups.
Renewable Energy, Private Equity, Financial Services,India, United Arab Emirates
https://www.zawya.com/en/wealth/wealth-management/abu-dhabi-sovereign-fund-adia-invests-in-indias-premier-energies-ahead-of-ipo-x4bcwbsa