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The Abu Dhabi Investment Authority (ADIA) has acquired shares worth 730 million Indian rupees ($7.6 million) in building materials and steel supplier SG Mart.
The UAE sovereign wealth fund picked up 1.123 million shares, or a 0.89% stake in the Indian company, at INR 650 per share. Canada’s Public Sector Pension Investment Board also picked up 1 million shares at INR 649.98 per unit.
On Tuesday, the $1.11 trillion UAE fund also emerged as an anchor investor in the $1.2 billion IPO of SBI Funds Management, India’s largest asset manager.
(Writing by Bindu Rai, editing by Seban Scaria)
