Recently, US-based investment firm GQG Partners too invested USD 1.1 billion in Adani Power.
As per a report published by Economic Times, Abu Dhabi National Energy Company PJSC (TAQA) is considering an investment of up to $2.5 billion in Adani Power, helmed by Indian billionaire Gautam Adani. For those caught unaware, TAQA is the second-largest stock on Abu Dhabi Securities Exchange (ADX).
Not just that, US-based boutique investment firm GQG Partners, on Wednesday, made an investment of USD 1.1 billion in Adani Power, thereby picking up an 8.1% stake in the company. GQG Partners bought 31 crore shares of Adani Power, and the deal was the largest-ever in the secondary market equity periphery.
The decision by GQG Partners to buy the Adani equities came after corporate governance concerns made by US-based short seller Hindenburg. In July, GQG took over a 3 percent stake in Adani Transmission and it did so in the open market transactions worth ₹2,666 crore. Now the recent investment has come just two days after investment firm GQG Partners, along with the IHC Group and others, made an investment of around $1 billion in Adani Group stocks.
GQG, which is controlled by Rajiv Jain, and other investors, collaboratively bought a total of $1 billion of additional stakes in the Adani stocks -- Adani Enterprises, Adani Green Energy -- via block deals. Not to miss, GQG invested ₹15,446 crore earlier in March, and took stocks in four Adani Group companies. They are Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission, and Adani Enterprises.
In addition, two promoter entities raised shareholding in Adani Ports and Special Economic Zone Ltd together, and by over 2 percent.
Coming to details shared by the company with Indian stock market exchanges, two promoter entities Resurgent Trade and Investment Ltd and Emerging Market Investment DDC, also have acquired fresh stake in Adani Ports via the open market.
It was on 16th August 2023 that Goldman Sachs GQG Partners International Opportunities Fund took out this single seller single buyer deal, and the handshake worth ₹2,876 crore was conducted through a bulk deal.
