Rajiv Jain’s GQG Partners has now bought a stake in Adani’s company, a block deal.

Rajiv Jain’s investment firm GQG Partners has once again made a major investment in the Adani Group. This time GQG Partners has bought over 8% stake in group company Adani Power through a block deal. It is being told that GQG Partners may have done this block deal with the promoters of Adani Power.

A deal of more than 8 percent of shares

According to an ET Now report, 8.1 percent of Adani Power’s stake was traded in a block deal in Wednesday’s trade. Most probably the promoters have sold their stake in this block deal. Bloomberg has also reported a block deal in Adani Power shares on Wednesday. Bloomberg reported that there were 5 block deals for Adani Power shares in today’s trade.

Made about $1 billion

About 310.9 million shares of Adani Power were traded in 5 block deals, according to Bloomberg. His worth is said to be around one billion dollars. Rajeev Jain’s GQG Partners has not yet made an official statement about the deal and buyback of Adani’s stake. Earlier, GQG Partners has bought Adani shares on several occasions.

Invested like this before.

Since the Hindnerb report came out in January, GQG Partners has steadily increased its investment in Adani group companies. First, in March, he invested over Rs 15,000 crore in 4 Adani companies including Adani Enterprises. Subsequently, GQG reinvested around Rs 8,265 crore in Adani Enterprises and Adani Green Energy in June. In the same month, GQG bought about 1.9 percent stake in Adani Transmission for Rs 1,676 crore.

Continuous increase in shareholding

As of June 2023, GQG Partners held 2.67 percent in Adani Enterprises and 3.5 percent in Adani Green Energy. Rajeev Jain had said in an interview some time ago that his company’s goal is to become the largest shareholder in the Adani group of companies after the promoters.

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