International Holding Co's (IHC) outlook on investments in India's Adani Group remains unchanged, the Abu Dhabi conglomerate said following the U.S. indictment of billionaire Gautam Adani, while the company's shares rose strongly for a second day on Thursday.

International Holding Company, which is listed on the Abu Dhabi Securities Exchange, is the third-largest foreign investor in Adani, having put in $2.5 billion.

IHC emphasised that their partnership is grounded in the Adani Group’s significant contributions to the green energy and sustainability sectors.

International Holding Co's (IHC) outlook on investments in India's Adani Group remains unchanged, the Abu Dhabi conglomerate said following the U.S. indictment of billionaire Gautam Adani.

In April 2022, IHC invested $500 million each in Adani Green Energy and Adani Transmission, along with $1 billion in Adani Enterprises. Although IHC later sold stakes in Adani Green Energy and Adani Transmission, it increased its holding in Adani Enterprises to over 5%, demonstrating continued confidence in the conglomerate's flagship entity.

Shares of all 10 listed group entities of the company were trading in the positive territory on November 28. This happened after the Indian conglomerate claimed that there were no bribery charges against Gautam Adani and other group executives.