Highlights

  • GQG partners bought shares worth Rs 15,446 cr in Adani enterprises, Adani ports, Adani Green and Adani transmission

  • On Thursday, top court ordered SEBI to conduct a thorough probe and complete the investigation in 2 months

Latest news

'10 lakh man-hours': carpets for new Parliament building weaved by these many UP artisans

'10 lakh man-hours': carpets for new Parliament building weaved by these many UP artisans

IIFA 2023: Here’s why Alia Bhatt skipped the event

IIFA 2023: Here’s why Alia Bhatt skipped the event

Rahul Gandhi: PM treating inauguration of new Parliament building as...

Rahul Gandhi: PM treating inauguration of new Parliament building as...

New Parliament House: PM releases special commemorative postage stamp, Rs 75 coin

New Parliament House: PM releases special commemorative postage stamp, Rs 75 coin

Wrestlers Protest: Delhi Police clearing protest site after detaining wrestlers

Wrestlers Protest: Delhi Police clearing protest site after detaining wrestlers

Adani group stocks rally after GQG buys ₹15,4446 cr worth of stake

Stocks of Adani group companies saw a big spike on the back of the promoters selling Rs 15,446 crore worth of shares to U.S based boutique investment firm GQG. 

 

Adani group stocks shot up on Friday, after the promoters sold shares worth Rs 15,446 crore ($1.8 billion) in four of its listed entities. The buyer was GQG Partners, which is a U.S based global equity-investment boutique firm.

GQG partners bought shares worth Rs 5,460 crore in Adani enterprises, Rs 5,282 crore in Adani ports, Rs 2,806 crore in Adani Green and Rs 1,898 crore in Adani transmission.

The proceeds from the share sale will be used by promoters for reducing debt and other purposes.

Jugeshinder Singh, Group CFO of Adani Group, said: “We are delighted to complete this landmark transaction with GQG. We value GQG’s role as a strategic investor in our infrastructure and utility portfolio of sustainable energy, logistics and energy Transition. This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies.”

Since January 24th, when the Hindenburg research was released, Adani group has been battling the repurcissions of the allegations made by the report. The report accused Adani group of stock price manupulation and accounting fraud, allegations which the Adani group has strongly denied.

Meanwhile, the Hindenburg-Adani row reached the top court. And on Thursday, the Supreme Court ordered capital markets regulator SEBI to conduct a thorough probe and complete the investigation within two months. The top court also appointed an expert committee to oversee the investigation and also to look into if there was any kind of regulatory failure or if mechanisms needs to be strengthened to protect investors.

Up Next

Adani group stocks rally after GQG buys ₹15,4446 cr worth of stake

Adani group stocks rally after GQG buys ₹15,4446 cr worth of stake

Monsoon Forecast: India to witness normal monsoon despite El Nino threat

Monsoon Forecast: India to witness normal monsoon despite El Nino threat

Finfluencer PR Sundar settles with SEBI; to not deal in securities for a year, disgorge over Rs 6 cr

Finfluencer PR Sundar settles with SEBI; to not deal in securities for a year, disgorge over Rs 6 cr

Jet Airways crisis: Bidder Jalan Kalrock Consortium gets 97 more days to pay dues to SBI

Jet Airways crisis: Bidder Jalan Kalrock Consortium gets 97 more days to pay dues to SBI

Invest Smart: How to protect your money from financial cyber-scams

Invest Smart: How to protect your money from financial cyber-scams

JPMorgan trademarks ChatGPT like investment advisor 'IndexGPT'

JPMorgan trademarks ChatGPT like investment advisor 'IndexGPT'

More videos

Gold, Silver Rates Today 23 May 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

Gold, Silver Rates Today 23 May 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

Sensex will hit 1 lakh mark soon: Jefferies' Chris Wood

Sensex will hit 1 lakh mark soon: Jefferies' Chris Wood

Sensex, Nifty rally for 2nd day; RIL, Sun Pharma, Hindalco among major gainers

Sensex, Nifty rally for 2nd day; RIL, Sun Pharma, Hindalco among major gainers

Page industries Q4 earnings: Shares crash as net profit falls 59%

Page industries Q4 earnings: Shares crash as net profit falls 59%

Rs 2,000 Note Exchange: Bengaluru traders, petrol pumps enforce minimum purchase rule

Rs 2,000 Note Exchange: Bengaluru traders, petrol pumps enforce minimum purchase rule

Go First extends flight suspension till 28 May

Go First extends flight suspension till 28 May

Campus recruits' joining at Amazon India delayed for six months

Campus recruits' joining at Amazon India delayed for six months

Nvidia: all you need to know about this trillion dollar AI chip giant

Nvidia: all you need to know about this trillion dollar AI chip giant

This golden retriever earns Rs 8 crores through his social media popularity

This golden retriever earns Rs 8 crores through his social media popularity

₹2000 note exchange: Banks to notify big deposits to IT department

₹2000 note exchange: Banks to notify big deposits to IT department

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.