ET

GQG Partners

28/06/2023 08:47

(Changes sourcing to Economic Times report; adds details and
background in paragraphs 2-6)
       BENGALURU, June 28 (Reuters) - Australia-listed
investment firm GQG Partners  GQG.AX  and other investors have
bought around $1 billion of additional stake in India's Adani
Group companies, a report by the Economic Times newspaper said
on Wednesday. 
    The investors have bought 2.2% stake comprising of 35.2
million shares in Adani Green Energy Ltd  ADNA.NS  and 1.6%
stake comprising of 18 million shares in Adani Enterprises Ltd
 ADEL.NS  in block deals, the report added.
        GQG Partners, Adani Enterprises and Adani Green Energy
did not immediately respond to Reuters' request for comment. 
  
        GQG Partners has been ramping up its investment in the
Indian conglomerate ever since a short-seller's critical report
in January sparked a stock rout, wiping out nearly $147 billion
from Adani companies' market value.
  
        Last month, the investment firm upped its stake in Adani
    by about 10%. 
        Australia-listed shares of GQG closed up 0.7% on
Wednesday. 
  
        Shares of Adani Green Energy changed hands in 52 blocks
deals as of 12:27 p.m. IST, while about 18.2 million shares of
Adani Enterprises were traded in eight blocks, according
to Refinitiv data
  
        Shares of Adani Enterprises were last up 4.5% and those
of Adani Green Energy were down 1.6% as of 12:27 p.m. IST.
  

 (Reporting by Manvi Pant in Bengaluru; Editing by Nivedita
Bhattacharjee)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))