International Holding Company (IHC), Abu Dhabi’s sovereign fund, has come out in support of the Adani group on Thursday — stating its outlook on its investments in the conglomerate stays unchanged despite US prosecutors indicting chairman Gautam Adani.

“Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors,” IHC, one of Adani key foreign investors, said. “As with all our investments, our team continues to evaluate relevant information and developments. At this time, our outlook on these investments remains unchanged,’’ IHC said in a statement.

The Adani group said on Wednesday its promoter and nephew Sagar Adani have not been indicted under the US Foreign Corrupt Practices Act (FCPA) but faced three other charges, including securities and wire fraud that are punishable with monetary fines. Earlier, this week, GQG Investment Partners had also come out in support.

IHC had increased its stake in Adani Enterprises in October to over 5 per cent. It acquired 6.43 lakh shares from the open market which took its holding to nearly 5.04 per cent.

Israel’s stand

Other international partners have also expressed their continued support: Israel wants Adani to continue to invest in the country, Israel’s envoy to India said on Thursday.

“We wish Adani and all Indian companies continue to invest in Israel,” Ambassador Reuven Azar said in an interview with Reuters, adding the allegations by US authorities were “not something that’s problematic” from Israel’s point of view. The Adani group holds a 70 per cent stake in Haifa port in northern Israel.

The Sri Lanka Ports Authority has expressed its confidence in its partnership with Adani for the Colombo port terminal. Sri Lanka Ports Authority chairman Sirimewan Ranasinghe has reportedly stated that there are no discussions about the project’s cancellation.

The Tanzanian government has also reaffirmed its commitment to its agreements with Adani Ports as it feels there are no concerns regarding the ongoing projects and that all contracts fully comply with Tanzanian law.

Banks to vet exposure

Indian lenders, including SBI, are reviewing their exposure to the Adani group and examining whether they need to tighten their due diligence when offering new loans to them, after the US accused chairman Gautam Adani of bribery, eight bankers said.

Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have a smaller exposure to the group, are also undertaking a similar exercise.

In a separate announcement, Adani Power said it has achieved an “exceptional’’ score of 67 (out of 100) in the corporate sustainability assessment by S&P Global for 2023-24. With inputs from Reuters