-Galla S Kiran Kumar,Bureau Chief Telagana (Andhra Pradesh)
GQG is increasing its stake in Adani Group. It recently bought shares worth nearly 1 billion dollars. These shares changed hands through a blackdeal.
Delhi: The American equity investment firm GQG Partners (GQG Partners) is increasing its stake in the Adani group owned by prominent businessman Gautam Adani. GQG, which bought shares in Adani Group after the publication of the Hindenburg Report, has once again invested heavily in Adani Group. GQG Partners along with other investors bought shares worth about $1 billion in Adani Enterprises Limited and Adani Green Energy. Related sources revealed that the investors bought these shares from the Adani family.
1.8 crore shares of Adani Enterprises changed hands through a black deal on Wednesday, reliable sources said. Investors have also bought 3.52 crore shares of Adani Green Energy. Adani Group has sold Adani Enterprises shares at Rs 2,300 and Adani Green Energy shares at Rs 920. Adani Group stocks continued to gain on Wednesday on the back of buying of shares in Adani Group shares.
GQG Partners was founded in June 2016 by Indian-origin Rajiv Jain. At present he is acting as the Chairman and Chief Investment Officer of this company. Earlier, after the publication of the Hindenburg report, GQG.. bought shares for repayment of loans and in a way Adani Group supported the company. In March this year again, GQG acquired stakes in Adani Enterprises, Adani Ports, Adani Green Energy and Adani Transmission companies through secondary market block transactions for Rs 15,446 crore. Rajiv Jain, head of the company, said in an interview earlier that they will buy shares in the Adani Group in the future. It is noteworthy that it is in this context that Adani continues to invest in the group.
