The Abu Dhabi Investment Authority (ADIA) continues its strategic investment spree in India, becoming an anchor investor in Premier Energies ahead of its Initial Public Offering (IPO). The IPO, which opens today, saw Premier Energies raise 8.46 billion rupees ($100.8 million), with ADIA acquiring a 4.5% stake for INR 379.5 million. This investment translated to 843,282 shares at an equity share price of INR 450 each. Other major investors include the Nomura Funds Ireland India Equity Fund and the Government Pension Fund Global. The IPO allocations are set with 50% for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors, with employees offered a discount. ADIA’s activity in the Indian market is extensive, with over $1 billion invested in the first half of 2024 across various sectors, including a $240 million real-estate project with Prestige Group and Kotak AIF, a $1.5 billion warehousing investment with KKR, and a $120 million funding round for the startup Purplle.
Renewable Energy, Investment & Finance, Real Estate, Startup Funding,India, United Arab Emirates
https://www.zawya.com/wealth/wealth-management/abu-dhabi-sovereign-fund-adia-invests-in-indias-premier-energies-ahead-of-ipo-x4bcwbsa