There is good news for Adani Group. Even after Hindenburg's report, the investors' trust on Adani remains strong, due to which companies are investing huge amounts of money in Adani's companies. Recently US based investment firm GQG Partners has made a bumper investment in Adani Group's company and signed a deal. American firm GQG has bought 3.9 per cent stake in Adani Power through a bulk deal. GQG Partners Emerging Market Fund and Goldman Sachs GQG Partners International have invested Rs 4242 crore in Adani Power Limited.
This company also sold stake
Meanwhile, Worldwide Emerging Markets Holding, part of the promoter group, has sold 1.2 per cent stake. Another promoter Afro Asia Trade and Investments sold its entire stake in the deal. The promoter group entities together sold about 8.1 per cent stake in Adani Power. Till June 2023, Worldwide Emerging Markets Holding held 5% stake in the company and Afro Asia Trade & Investments held 6.88%.
GQG investing money in Adani
Following the allegations made by US-based short seller Hindenburg, GQG Partners has made a bumper investment in Adani shares against market sentiment. In March, it had invested over Rs 15,000 crore and bought stake in four Adani companies, including Adani Enterprises. Since then, the American firm has significantly increased its stake in Adani Group companies. This shows the trust of investors order firm on Adani Group.
Company increased stake
In June, GQG bought additional stakes in Adani Enterprises and Adani Green Energy for Rs 8,265 crore. As of June 2023, GQG holds 2.67% in Adani Enterprises and 3.5% in Adani Green Energy. In June itself, the US-based investment firm had also infused Rs 1,676 crore in Adani Transmission.
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