Adani Backed by UAE Royals Buying $400 Million in Share Sale

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Adani Gets Backing as UAE Royals Buy $400 Million in Share Sale

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By Farah Elbahrawy and Bhuma Shrivastava

January 30, 2023 at 11:26 AM UTC

Updated on

January 30, 2023 at 3:42 PM UTC

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Abu Dhabi’s International Holding Co. will invest about $400 million in Adani Enterprises Ltd.’s follow-on share sale, voicing confidence in Indian billionaire Gautam Adani’s business empire after almost $70 billion was wiped off its market value.