Increasing its stake in Ambuja Cements by another 1.1 per cent, GQG Partners, the United States-based investor, has become the largest institutional investor in Adani Group as the investment value now stands at Rs 80,000 crore. GQG Partners has now taken the total holding in the cement company to 2.4 per cent.
Holderind Investments offloaded a 2.8 per cent stake in the cement company for Rs 4,251 crore. The deal was executed at an average price of Rs 625.5 per share on the National Stock Exchange.
GQG Partners has investments in six of the ten listed Adani group companies. It includes Adani Enterprises, Adani Energy Solutions, Adani Power, Ambuja Cements, Adani Green Energy, Adani Ports and SEZ. The total value of investments by GQG Partners in these six companies stood at around Rs 80,000 crore as of Friday’s close (23 August 2024.)
Adani Green Energy and Adani Power account for more than 50 per cent of the investments made by GQG Partners, run by Investor Rajiv Jain. To give a context, the Life Insurance Corporation of India (LIC), which is the largest institutional investor in India, has about Rs 60,000 crore worth of investment in the form of shares in the Adani group.
The firm run by Rajiv Jain holds around 7 per cent stake in the above-mentioned companies. On an overall basis, GQG partner owns around 5.20 per cent stake in the Adani group. To be precise, the investor owns around 7.73 per cent stake in Adani Power, followed by a 7 per cent ownership in Adani Green Energy. The investor’s holdings in Adani Energy Solutions stood at 6.6 per cent.
The US-based investor has made investments and picked stakes in nearly all the companies of the Adani group after the Hindenburg report was made public.
