GQG partners, promoter entities buy Adani Group shares worth Rs 19,000 crore in September quarter

Rajiv Jain-backed GQG Partners increased its investments in four Adani Group firms by putting in Rs 6,625 crore during the September quarter

Promoter group entities and GQG Partners have significantly increased their stakes in Adani Group companies during the September quarter, with a combined investment exceeding Rs 19,000 crore, according to the latest shareholding data. While promoters pumped in around Rs 12,780 crore in group companies, GQG partners invested around Rs 6,625 crore.

Promoter Activity

Adani Group promoters raised their stakes in four of their listed entities: Adani Energy Solutions Ltd, Adani Enterprises Ltd, Adani Green Energy Ltd, and Adani Power Ltd, while reducing their stake in Ambuja Cements. The total value of these holdings is approximately Rs 12,778 crore.

In Adani Green Energy Ltd, promoter holdings rose by 3.42 percentage points, from 57.52% to 60.94%. Key transactions included Hibiscus Trade and Investment's purchase of 20.1 million shares (1.27% equity stake) between July 30 and September 18, and Ardour Investment Holding's acquisition of 26.7 million shares (1.69% equity stake) between September 19 and 23. Based on an average stock price of Rs 1,903 during the quarter, these acquisitions are estimated at Rs 10,310 crore.

Promoter holdings in Adani Power increased by 2.25 percentage points to 74.96%, with an estimated spend of Rs 5,703 crore. They also invested around Rs 427 crore in Adani Energy Solutions and Rs 626 crore in Adani Enterprises Ltd, based on average prices for the quarter. Conversely, promoter stake in Ambuja Cements Ltd dropped by 2.76 percentage points, down to 67.57% from 70.33%, with a sale valued at approximately Rs 4,288 crore.

GQG Partners Activity

Rajiv Jain-backed GQG Partners increased its investments in four Adani Group firms by putting in Rs 6,625 crore during the September quarter. The companies involved are Adani Enterprises Ltd, Adani Energy Solutions Ltd, Adani Green Energy Ltd, and Ambuja Cement Ltd. However, GQG marginally reduced its stake in Adani Ports & SEZ Ltd and Adani Power Ltd by Rs 22 crore and Rs 35 crore, respectively.

GQG Partners made notable investments in Adani Green Energy, participating in its QIP to the tune of  Rs 3,390 crore. For two other Adani group companies,  Adani Energy Solutions and Ambuja Cement Ltd it made purchases worth Rs 1,784 crore and Rs 1,077 crore, respectively. The firm also invested Rs 432 crore in Adani Enterprises Ltd.

Following these transactions, GQG now holds a 4.7% stake in Adani Energy Solutions, up from 3.4% in the previous quarter, and  5.28%  in Adani Green Energy, up from 4.16%. Its stake in Ambuja Cement increased to 2.05% from 1.35%, while its holdings in Adani Enterprises rose slightly to 3.52% from 3.4% a quarter earlier.

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