Adani family trust sells Rs 15,446-cr stock to GQG

Adani family trust sells Rs 15,446-cr stock to GQG

SB Adani Family Trust on Thursday sold about 21 crore shares worth Rs 15,446 crore in four Adani Group companies — Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, and Adani Transmission.

The shares were acquired by US global equity boutique firm GQG Partners, which is listed on the Australian Stock Exchange and manages more than $92 billion in client assets as of January 31, 2023.

Rajiv Jain, chairman and CIO of GQG Partners, said: “I am excited to have initiated positions in the Adani companies. Adani companies own and operate some of the largest and most important infrastructure assets throughout India and around the world. Gautam Adani is widely regarded as among the best entrepreneurs of his generation. We believe that the long-term growth prospects for these companies are substantial, and we are pleased to be investing in companies that will help advance India’s economy and energy infrastructure, including their energy transition over the long-run.”

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.”

Jefferies India acted as a sole broker for the transaction.