Adani Group Shares Worth ₹19,000 Crore Acquired by GQG Partners

The promoters of the Adani Group, as well as GQG Partners, have significantly increased their interests in some of the various Adani Group firms during the September quarter, which in total was more than ₹19,000 crore The promoters added around ₹12,780 crore; GQG Partners infused approximately ₹6,625 crore.

The four companies whose stakes have been boosted by promoters include Adani Energy Solutions Ltd, Adani Enterprises Ltd, Adani Green Energy Ltd, and Adani Power Ltd. This reduces the holding from Ambuja Cements. In total, the value of the increased stakes comes to around ₹12,778 crore.

Promoter shares in Adani Green Energy went up by 3.4 percentage points from 57.52% to 60.94%. Hibiscus Trade and Investment also made some major purchases with 20.1 million shares or 1.27% between July 30 - September 18. Ardour Investment Holding also purchased 26.7 million shares or 1.69% between September 19 to 23. These will translate into roughly ₹10,310 crore at an average stock price of ₹1,903 for the quarter.

Promoter stakes in Adani Power rose by 2.25 percentage points to 74.96%, valued at about ₹5,703 crore. Other promoter investments in the quarter included in Adani Energy Solutions, valued at around ₹427 crore, and in Adani Enterprises Ltd, valued at about ₹626 crore, calculated based on average quarterly stock prices. On the other hand, promoter stakes in Ambuja Cements Ltd declined by 2.76 percentage points to 67.57% with shares sold for an estimated ₹4,288 crore.

GQG Partners, led by global strategist Rajiv Jain, invested ₹6,625 crore in four Adani companies during the quarter ended September. Adani Enterprises Ltd, Adani Energy Solutions Ltd, Adani Green Energy Ltd, and Ambuja Cement Ltd are the investment companies. GQG scaled down its stakes in two other Adani companies, Adani Ports & SEZ Ltd and Adani Power Ltd, to ₹22 crore and ₹35 crore, respectively.

Check Adani Group Stocks

Apart from those, GQG has also invested ₹3,390 crore in Adani Green Energy through the QIP route. The company has also invested in Adani Energy Solutions for ₹1,784 crore, in Ambuja Cement Ltd to the tune of ₹1,077 crore, and in Adani Enterprises Ltd for ₹432 crore.

Post investing in those shares, GQG's stake in Adani Energy Solution rose to 4.7% from 3.4%, while at Adani Green Energy, the stake was raised to 5.28% from 4.16%. At Ambuja Cement, the stake of GQG increased to 2.05% from 1.35%, and with the case of Adani Enterprises, GQG's stake marginally picked up to 3.52% from 3.4%.

GQG Partners LLC is an investment management company. Company engages in offering investment advice, asset management, financial planning, capital equity, and dividend income investment to investors, in addition to consulting. The operational business of GQG Partners primarily consists of customers mostly from the United States, United Kingdom, and Australia.