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Adani Power news: US-based boutique investment firm GQG Partners invested USD 1.1 billion in Adani Power to pick up 8.1% stake in company, said PTI in its news report.
According to the PTI news report, GQG Partners bought 31 crore shares of Adani Power in the largest ever secondary market equity deal, they said, adding that promoter Adani family sold the stake for over ₹9,000 crore.
On Wednesday, five blocks of shares totalling approximately $1 billion were traded as the ports-to-power company stepped up its efforts to recover from a short-seller attack, according to Bloomberg. According to information gathered by Bloomberg, almost 310.9 million shares were traded, said ETMarkets.com in its news report.
Following corporate governance concerns made by US-based short seller Hindenburg, GQG Partners opted to buy in Adani equities, challenging market trends.
In July, GQG bought around 3 per cent stake in Adani Transmission through open market transactions worth ₹2,666 crore. The fresh purchase came two days after investment firm GQG Partners, along with the IHC Group and others, invested around $1 billion in Adani Group stocks. GQG, controlled by Rajiv Jain, and other investors bought a total of $1 billion of additional stakes in the conglomerate's stocks -- Adani Enterprises, Adani Green Energy -- through block deals.
GQG invested $2 billion earlier in March to acquire in four Adani Group companies: Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission, and Adani Enterprises.
As per the information shared by the company with Indian stock market exchanges two promoter entities Resurgent Trade and Investment Ltd and Emerging Market Investment DDC have acquired fresh stake in Adani Ports via open market.
www.bloomberg.com
According to the PTI news report, GQG Partners bought 31 crore shares of Adani Power in the largest ever secondary market equity deal, they said, adding that promoter Adani family sold the stake for over ₹9,000 crore.
On Wednesday, five blocks of shares totalling approximately $1 billion were traded as the ports-to-power company stepped up its efforts to recover from a short-seller attack, according to Bloomberg. According to information gathered by Bloomberg, almost 310.9 million shares were traded, said ETMarkets.com in its news report.
Following corporate governance concerns made by US-based short seller Hindenburg, GQG Partners opted to buy in Adani equities, challenging market trends.
In July, GQG bought around 3 per cent stake in Adani Transmission through open market transactions worth ₹2,666 crore. The fresh purchase came two days after investment firm GQG Partners, along with the IHC Group and others, invested around $1 billion in Adani Group stocks. GQG, controlled by Rajiv Jain, and other investors bought a total of $1 billion of additional stakes in the conglomerate's stocks -- Adani Enterprises, Adani Green Energy -- through block deals.
GQG invested $2 billion earlier in March to acquire in four Adani Group companies: Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission, and Adani Enterprises.
As per the information shared by the company with Indian stock market exchanges two promoter entities Resurgent Trade and Investment Ltd and Emerging Market Investment DDC have acquired fresh stake in Adani Ports via open market.
Adani Power Has 8.1% of Equity Change Hands in Block Deals
GQG Partners bought 8.1% of the total outstanding shares in billionaire Gautam Adani-controlled Adani Power Ltd. for about $1.1 billion through block deals on Wednesday, according to people familiar with the matter.
www.bloomberg.com
