GQG invests in Adani stocks for a third round

28 Jun 2023 , 12:37 PM

According to a report, US-based GQG Partners and other investors bought shares in the conglomerate on Wednesday for about $1 billion, marking the third round of investments in Adani stocks in the last four months.

According to ET Now, which cited insiders, GQG and other investors have purchased additional interests in Adani Group equities worth $1 billion through block agreements.

Adani Green Energy saw a total of 35.2 million shares, or 2.2% of outstanding stock, change hands during the day, while Gautam Adani’s main company, Adani Enterprises, saw a block trade of 18 million shares, or 1.6% of outstanding equity, occur.

Following the block deal, shares of Adani Enterprises were trading 5.5% higher at Rs 2,405, while those of its green unit were trading unchanged.

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