GQG Partners Sells Adani Enterprises Shares for Rs 1435 Cr

New Delhi, May 14 (PTI) US-based investment firm GQG Partners on Thursday sold 58.92 lakh shares of billionaire Gautam Adani-led Adani Enterprises Ltd for Rs 1,435 crore through an open market transaction.

Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, offloaded a total of 58,92,423 shares, representing a 0.45 per cent stake in Adani's flagship firm Adani Enterprises, as per the block deal data available on the NSE.

Shares were disposed of at an average price of Rs 2,435.60 apiece, taking the transaction value to Rs 1,435.16 crore.


Following the latest transaction, GQG Partners' affiliate's holding in Adani Enterprises declined to 1.14 per cent from 1.59 per cent.

Meanwhile, SBI Mutual Fund purchased an equal number of shares at the same price, as per the data on the National Stock Exchange (NSE).

Shares of Adani Enterprises Ltd rallied 8.85 per cent to close at Rs 2,719 apiece on the NSE.