GQG Partners Sells 54 Lakh Shares Of Adani Enterprises; India’s Biggest Mutual Fund Bought It

Indian equity benchmark indices ended higher on Thursday, with the benchmark Nifty 50 index rising 1.18 per cent to close at 23,689.60. Positive sentiment across Adani Group stocks supported strong buying interest during the session. In this segment, shares of Adani Enterprises remained in focus after a major block deal involving GQG Partners Emerging Markets Equity Fund and SBI Mutual Fund. On Thursday, Adani Enterprises share price surged 8.60 per cent to close at Rs 2,712.90.

SBI Mutual Fund Absorbs Rs 1,435 Crore Adani Enterprises Block Deal

According to exchange block deal data, GQG Partners Emerging Markets Equity Fund sold 58,92,423 shares of Adani Enterprises, representing around 0.45 per cent stake in the company. The transaction was executed at an average price of Rs 2,435.60 per share, taking the total deal value to around Rs 1,435 crore.

SBI Mutual Fund purchased the entire block of shares at the same price, absorbing the full supply in a single transaction. Following the transaction, GQG Partners Emerging Markets Equity Fund’s stake in Adani Enterprises reportedly declined to around 1.14 per cent.

GQG Partners Emerging Markets Equity Fund

GQG Partners Emerging Markets Equity Fund is an affiliate investment vehicle of U.S.-based investment firm GQG Partners, led by noted fund manager Rajiv Jain. GQG Partners became one of the prominent institutional investors in Adani Group companies following its investments in the conglomerate during 2023.

The fund primarily invests in emerging market equities across sectors and geographies, with a focus on long-term growth opportunities and Large-Cap companies.

SBI Mutual Fund

SBI Mutual Fund is India’s largest mutual fund house by assets under management and is backed by State Bank of India. The fund house manages investments across equity, debt, hybrid and passive investment categories for retail and institutional investors.

SBI Mutual Fund has remained active in large institutional transactions and block deals involving several blue-chip Indian companies across sectors.

Adani Enterprises Share Price Performance

Adani Enterprises shares have witnessed strong momentum in recent weeks. The stock gained 26.80 per cent over the past one month and rose 10.44 per cent during the last six months. However, on a one-year basis, the stock remains down 11.29 per cent. The company currently commands a market capitalisation of around Rs 3,52,922 crore.

About Adani Enterprises

Adani Enterprises is the flagship company of the Adani Group with diversified business interests across airports, roads, mining, green hydrogen, data centres, Solar manufacturing and integrated resource management. The company plays a key role in incubating and scaling new infrastructure and energy businesses within the Adani Group ecosystem.

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Disclaimer: This article is for informational purposes only and not investment advice.