NEW DELHI: US-based boutique investment firm GQG Partners and other foreign investors have bought about $1 billion worth of additional stakes in Adani group firms, Adani Enterprises (AEL) and Adani Green Energy(AGEL).
The stake purchase by GQG comes as billionaire Gautam Adani continues to rebuild market confidence after being hit by the scathing report of US short-seller Hindenburg Research. GQG’s stake in Adani Group flagship AEL has grown from 3.39% on Tuesday to 4.96% on Wednesday as it purchased shares at Rs 2,300 apiece. GQG’s stake in Adani Green has grown from 3.50% on Tuesday to 6.32% on Wednesday as it bought shares at `920 apiece.
Total value of GQG holding in AEL now stands at Rs 13,600 crore and in AGEL Rs 9,600 crore. “Over the years, Adani Group with its portfolio firms has emerged as the largest and fastest growing critical infrastructure developer. Adani portfolio offers one-stop play for India’s growing infrastructure theme, with no equivalent alternative,” GQG said in a statement.