Adani Ports now has 5.03% of its stake owned by GQG Partners

21 Aug 2023 , 10:02 AM

After purchasing additional shares, investment company GQG Partners increased its ownership of Adani Ports and Special Economic Zone Ltd. on August 17 to 5.03%, according to a disclosure released on Saturday.

GQG Partners, which has a 4.93% holding in Adani Ports, disclosed late on Saturday that it had purchased an additional 0.10%, or 2.2 million shares, in a bulk transaction.

The investment was made following Deloitte’s resignation as Adani Ports’ auditor, the first such action following a negative report on the Adani company from American short-seller Hindenburg Research that was released in January.

The Adani group has refuted every accusation made by Hindenburg.

Last Wednesday, according to Reuters, GQG Partners paid $1.1 billion in a block agreement to acquire an 8.1% share in Adani Power.

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