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      Adia invests in Indian spirits company Allied Blenders

      Abu Dhabi Investment Authority (Adia) has made an investment in an Indian spirits maker, less than a week after anchoring the public offering on the National Stock Exchange of India.

      Adia acquired more than 1.5 million shares for INR977 million ($10 million) of Allied Blenders and Distillers, one of India’s top spirits companies, according to Bombay Stock Exchange data.

      SBI Mutual Fund, a private asset management company, acquired 3.4 million shares.

      The shares were purchased at INR650 each, BSE data showed.

      Allied Blenders posted a net profit of INR558 million in the April-June period a year ago. Its brands include Officer’s Choice Whisky, Sterling Reserve Premium Whiskies and Iconiq White Whisky.

      Adia is among the largest sovereign investors in India, anchoring several IPOs such as those of stockbroker Groww and Clean Max Enviro Energy Solutions, a renewable energy company.

      The wealth fund has also invested in the Indian government-backed National Investment and Infrastructure Fund, which aims to build large-scale infrastructure developments.

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      Source: AGBI
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