Adani Family Sells Over $1B in Shares to GQG Partners, Strengthening Balance Sheet and Restoring Investor Confidence

The Adani family has recently sold shares worth just over $1 billion (Rs 8,372 crore) in two of their group companies through secondary transactions on stock exchanges. GQG Partners, a US-based asset management firm listed in Australia, has purchased these shares, marking their third investment in Adani Group companies.

 

The primary objective behind the share sale is to enhance liquidity and strengthen the Adani family’s balance sheet. This move comes as they strive to regain investor trust after a critical report from Hindenburg Research led to a substantial decrease in the conglomerate’s market capitalization.

 

GQG Partners, established by Rajiv Jain and Tim Carver in 2016, manages around $92 billion in assets. The firm now holds ownership stakes in several Adani Group companies, including Adani Green Energy, Adani Enterprises, Adani Ports, and Adani Transmission.

 

Their recent acquisition of shares in Adani Green Energy and Adani Enterprises has contributed to the ongoing positive performance of these listed entities.

 

According to disclosures made on the National Stock Exchange, the S B Adani Family Trust has sold 1.6% of shares in Adani Enterprises, the flagship company. These transactions reflect the Adani family’s strategic efforts to reinforce their financial position and restore investor confidence in their business operations.

 

 

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