GQG Sells Adani Stakes Worth Rs 5,747 Cr

GQG Partners recently executed substantial stake sales in two key Adani Group companies. The investment firm divested 1.26% of Adani Enterprises' market capitalization, realizing Rs 4,789.62 crore through a block deal at an average price of Rs 2,913.40 per share.

Additionally, GQG Partners sold 63.65 lakh shares of Adani Energy Solutions for Rs 957.93 crore. These shares were acquired by SBI Mutual Funds at an average price of Rs 1,504.80 per share, marking a significant transaction for both entities.

This strategic divestment by GQG Partners, led by Chief Investment Officer Rajiv Jain, follows their notable contrarian investment in early 2023. At that time, GQG Partners invested Rs 15,446 crore across Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, and Adani Transmission (now Adani Energy Solutions), following a period of stock price decline for the Adani Group.

The performance of Adani Enterprises' stock has shown positive trends, with a 3.5% rise in the last five trading days and a 21.4% increase over the past month. Similarly, Adani Energy Solutions has seen its share price climb over 4% in the last five sessions and 16.6% in the past month, indicating a recovery and growth trajectory for these Adani entities.