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GQG Exits ITC: ₹9,395 Cr Stake Sale Shakes Up Portfolio
9 Oct
Summary
- GQG Partners sold ITC shares worth ₹9,395 crore in a block deal.
- The firm reduced Indian investments by approximately ₹24,400 crore since early 2026.
- GQG increased its holdings in JSW Energy and JSW Steel during the June quarter.
GQG Partners has executed a substantial block deal, offloading ITC shares worth approximately ₹9,395 crore as of October 8, 2026. This transaction is part of a larger trend where the investment firm has reduced its holdings in various Indian companies by about ₹24,400 crore since early 2026. Notably, GQG's stake in ITC, previously 3.12%, was sold down significantly. The firm also saw its holdings in Lodha Developers and ITC Hotels fall below disclosure thresholds by the June 2026 quarter. Concurrently, GQG has bolstered its investments in JSW Energy and JSW Steel, acquiring stakes valued at around ₹1,941 crore and ₹3,054 crore, respectively, during the June quarter. This strategic reallocation comes as GQG manages assets exceeding $156 billion and follows its significant investment in Adani Group companies in 2023.
