GQG Partners, IHC Group and other Investors have bought stake worth over $900 million (more than Rs 7,300 crore) in Adani Enterprises Ltd. and Adani Green Energy Ltd., according to people in the know.
The investors acquired stake from the Adani family, the people said on the condition of anonymity.
According to Bloomberg data:
GQG had invested $1.9 billion in four Adani companies in March even as the group repaid debt and held road shows to shore up confidence after a short-seller report. GQG increased its stake by buying shares worth $400-500 million in the last few months.
Rajiv Jain, GQG founder, had said earlier that he expects his investment to double. He told BQ Prime that he has bought into a conglomerate led by “an entrepreneur who does a phenomenally good job in execution”.
Shares of Adani Enterprises were trading 5.01% higher at 11:53 a.m., while Adani Green was down 0.69% compared with a 0.77% rise in Nifty 50.
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