GQG invests in shares of Adani Group

Market regulatory body SEBI has been informed about raising money through secondary market transactions on behalf of the promoters of Adani Group.

In a statement from the group, it has been told that the promoters of the group have raised Rs 15,446 crore through a block deal.

It has been told in the statement that America's global investment firm, GQG Partners has bought a stake in Adani Group's portfolio companies for Rs 15,446 crore.

Adani Group CFO Jugshinder Singh (Robbie) said the deal with GQG reflects the continued trust of global investors in the governance arrangements, management activities and Adani companies.

With this investment, GQG has become a leading investor in the development and growth of Indian infrastructure, according to the statement.

It has been told that GQG Partners has invested in four companies through deals.

In the deal, GQG Partners has bought 3.39% stake in Adani Enterprises, 0.04% in Adani Ports, 2.55% in Adani Transmission and 3.51% in Adani Green Energy.

The group said in a statement that Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL) have given some stake to the US company under the deal. .

Significantly, the American company has shown interest in taking Adani's shares at a time when the shares of Adani group companies declined after the report of American research and shortselling firm Hindenburg.

In such a situation, there is a clear possibility of a positive signal in the market due to the interest of the American investment firm in the four companies of the Adani Group.

Adani Group has a total debt of Rs 2.21 lakh crore, of which about eight percent is to be repaid by the end of the next financial year.

The promoters held 72.6 per cent stake in AEL before the sale and 3.8 crore shares or 3.39 per cent stake were sold for Rs 5,460 crore.

Promoters held 66 per cent stake in APSE and sold 8.8 crore shares or 4.1 per cent stake for Rs 5,282 crore. In ATL promoters held 73.9 per cent stake and sold 2.8 crore shares or 2.5 per cent stake for Rs 1,898 crore.

The promoters held 60.5 per cent stake in AGEL and sold 5.5 crore shares or 3.5 per cent stake for Rs 2,806 crore.

from input language

Featured Video Of The Day

Ritvik Dhanjani and Sussanne Khan at the store launch event in Mumbai