Adia drops another anchor in India + Nextgen sets up HQ in UAE

Adia drops another anchor in India

Abu Dhabi Investment Authority (Adia) is weighing an anchor ticket in Indian manufacturing platform Zetwerk’s planned IPO, which could value the company at USD 3.1 bn (INR 270 bn), Livemint reports, citing two sources it says are familiar with the matter. Adia is among more than 30 investors considering participation, including Norway’s Norges Bank, BlackRock, Goldman Sachs Asset Management, and HDFC Asset Management. The firm is expected to announce its price band today, with the offer set to open within weeks.

Zetwerk? Founded in 2018, Bengaluru-based Zetwerk runs a platform that connects manufacturers with businesses across sectors including renewables, electronics, defense, aerospace, and AI infrastructure.

REMEMBER- Adia anchored three of India’s biggest listings this year: SBI Funds Management, Manipal Health, and the National Stock Exchange. Zetwerk would add a manufacturing platform to the sovereign fund’s exposure to India’s energy and industrial supply chain, after it anchored solar panel maker Emmvee’s IPO in late 2025 and joined share placements by renewables developer Acme Solar and precision equipment manufacturer KRN earlier this year.

Nextgen moves global HQ to the UAE

UK-born AI consultancy Nextgen is packing up its global headquarters and relocating to the UAE, Albayan reports. The firm chose the UAE for its high AI adoption rates and practical deployment, rather than developing tech alone.

What is Nextgen? Founded in 2012, Nextgen has over 75 experts across five offices and serves more than 50 major corporate and institutional clients — helping develop and operate more than 200 practical AI applications, including for government agencies and organizations operating under strict regulatory requirements.

KSA, UAE agree on rail link

Riyadh and Abu Dhabi signed a preliminary agreement on rail links and electricity interconnection, according to The National, with UAE Investment Minister Mohamed Alsuwaidi and Saudi Energy Minister Prince Abdulaziz bin Salman putting their names to it in Riyadh. It sets a framework for moving goods and cargo by rail across the border, commissions feasibility studies on linking the two networks, covers cooperation on exchanging and selling power, and provides for coordination with the rest of the GCC on the wider Gulf grid. There are no figures, timelines, or named projects in the agreement, which comes 10 days after Sheikh Mansour’s visit to Riyadh reopened the conversation.

Abu Dhabi lines up AED 150 bn+ of new projects and initiatives

Government entities, investors, developers and tech companies announced more than 50 agreements and initiatives worth over AED 150 bn at Abu Dhabi's inaugural LIVEX, spanning infrastructure, real estate, mobility and urban tech, according to an Abu Dhabi Media Office statement.

On infrastructure: The Department of Municipalities and Transport (DMT) launched the Musaffah Innovation District, unveiled plans for phase two of the 14.5 km Mid-Island Parkway linking Abu Dhabi's central islands with the E-10 and Khalifa City, and rolled out a portal for investors to assess government-owned land and built assets. Al Ain also got a new long-term planning framework running to 2040.

On tech: Abu Dhabi Mobility launched an AI platform for transport planning. DMT and e& are trialling sensor- and AI-based flood monitoring in Al Ain, and signed DMT's first drone-as-a-service agreement covering traffic, inspections and construction monitoring. Other agreements cover smart parking at Etihad Rail stations, autonomous mobility and real estate development.

What to watch is delivery: The Media Office says the agreements will now move toward implementation, against a wider pipeline of AED 450 bn in committed infrastructure investment across the emirate. That comes as UAE contractors are growing warier of locking in prices on long-term projects amid rising material costs.