UAE wealth fund Abu Dhabi Investment Authority (ADIA) has announced that it has acquired Rs730 million ($7.6 million) worth of shares in leading Indian building materials and steel supplier SG Mart. 

ADIA picked up 1.123 million shares (0.89% stake) in the Indian company, at Rs650 per share. 

Joining the investment, Canada's Public Sector Pension Investment Board (PSP Investments) had acquired 1 million shares at Rs649.98 per share, highlighting continued global institutional interest in India's infrastructure and industrial sectors.

The investment comes just a day after ADIA emerged as an anchor investor in the $1.2 billion IPO of SBI Funds Management, India's largest asset management company.

The back-to-back investments underscore growing confidence among global sovereign wealth funds in India's long-term growth story, spanning infrastructure, financial services, and industrial businesses.