GQG Partners, which bailed out the Adani Group after the Hindenburg group’s allegations, has once again bought a large stake in the company. Us investment firm GQG Partners has invested $1.1 billion and acquired an 8.1 per cent stake in Adani Power, a part of the Adani Group, sources said on Wednesday. Talking about Indian currency, this deal is about Rs 9000 crore.
Purchase of 31 thousand shares
Sources familiar with the matter said GQG Partners has acquired this stake by buying 31 crore shares in the stock market. This is the biggest share purchase deal ever from the market. These shares, held by the Adani family, the promoters of Adani Power, were sold for $ 1.1 billion or about Rs 9,000 crore. Earlier, GQG Partners had also acquired 6.8 per cent stake in adani green energy ltd (AGEL), another group company.
Investment continues to rise after Hindenburg report
Please tell me at the end of June. GQG Partners and some other foreign investors had invested another $1 billion in Adani Enterprises and Adani Green Energy, two Adani Group companies. In March, GQG Partners first placed bets in Adani Group shares when Adani shares were seeing a sharp fall after a Hindenburg Research report. GQG Partners had then bought a stake in four shares of the Adani Group, including Adani Enterprises, through an investment of Rs 15,000 crore. GQG Partners’ stake in Adani Enterprises stood at 2.67 per cent at the end of June quarter, up from 1.43 per cent at the end of March quarter.
