Shares of Adani Group’s listed companies surged after its promoters sold stakes worth Rs 15,446 crore to a US-based global equity-investment company, GQG Partners, in a block deal.
The deal seems to have reversed the fortunes of the conglomerate’s listed companies on the stock market. The investments were made in Adani Ports and Special Economic Zone Ltd (APSEZ), Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL), and Adani Enterprises Ltd (AEL).
The promoter entity, S.B. Adani Family Trust sold shares in Adani Enterprises worth Rs 15,446 crore through bulk deals on BSE. Over 62 percent of them were bought by GQG Partners Emerging Markets Equity Fund and Goldman Sachs Trust II-Goldman Sachs GQG Partners Intl Opportunities Fund, run by GQG Partners.
