GQG raises stake in Adani Ports to over 5 per cent

On Thursday, the investment firm GQG Partners purchased further shares in Adani Ports & Special Economic Zone (APSEZ), increasing its overall position in the company from 4.93% to 5.03%. In light of the Hindenburg report, the investment shows the US-based investment company's confidence in the Adani group. 

A PTI report claims that GQG boosted its ownership of Adani Ports through a bulk transaction, giving the company a share in 5 out of the 10 Adani Group companies. Previously, on August 16, GQG invested $7.73 in Adani Power Ltd. Following the transaction, promoter stakes in Adani Power decreased from 74.97% to 66.88%.

GQG has been investing in Adani firms since May. Earlier, it bought a 5.4 per cent stake in Adani Enterprises, a 6.54 per cent stake in Adani Green Energy Ltd., and a 2.5 per cent stake in Adani Transmission Ltd. GQG’s total investment in Adani Group firms now stands at Rs 38,700 crore.

Source: Media Reports