BENGALURU, March 2 — US boutique investment firm GQG Partners has bought shares worth US$1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller’s critical report sparked a stock rout.
US-based, Australia-listed GQG has, through block deals, bought shares worth 154.46 billion rupees in four Adani group companies, including the conglomerate’s flagship firm Adani Enterprises, a regulatory filing showed. “We believe that the long-term growth prospects for these companies are substantial,” said Rajiv Jain, GQC’s chairman and chief investment officer.
“This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies,” said Adani Group CFO Jugeshinder Singh.
It is share sale from promoters..