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GQG Partners buys additional stake in Adani Ports

Traffic moves past the logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, India, February 2, 2023.

Posted on August 21, 2023

Investment firm GQG Partners raised its stake in Adani Ports And Special Economic Zone Ltd (APSE.NS) on Aug. 17 to 5.03% after buying more shares, GQG said in a disclosure on Saturday.

GQG Partners, which held a 4.93% stake in Adani Ports, acquired another 0.10% or 2.2 million shares of the company through a bulk deal, the disclosure made late on Saturday said.

The investment comes after Deloitte quit as auditor for Adani Ports, in the first such move after U.S. short-seller Hindenburg Research’s critical report on the Adani group that was published in January.

The Adani group has denied all Hindenburg’s allegations.

Reuters reported last Wednesday that GQG partners bought an 8.1% stake in Adani Power for $1.1 billion via block deal.


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