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Adani Group Stocks: To raise cash, Adani Group has sold shares of its four companies in the secondary market on Thursday, March 2, 2023. In the block deal, Adani group has raised a total of Rs 15,446 crore by selling shares of four companies. The company has sold these shares to American private equity firm GQG Partners in a block deal.
Adani Group has given this information that the shares of four subsidiary companies of the group Adani Ports and Special Economic Zone Limited, Adani Green Energy, Adani Transmission and Adani Enterprises have been sold to GQG Partners in a block deal worth Rs 15446 crore. The group said in a statement that GQG Partners has become a very important investor after investing in the development of India’s very special infrastructure.
Commenting on the investment, Rajeev Jain, Chairman and CIO, GQG Partners, said, “We believe there is substantial long-term growth potential for these companies, and we are extremely pleased to invest in these companies that are vital to India’s economy and energy infrastructure. including their long-term energy transformation. Speaking on the occasion, Jugshinder Singh, Group CFO, Adani Group, said that this transaction reflects the continued confidence of investors around the world in the portfolio development, governance and management practices of Adani companies.
Due to this deal, there has been a rise in all the shares of Adani Group on Thursday. Adani Transmission, Adani Green Energy, Adani Wilmar, Adani Power have gained 5 percent each. Adani Ports also closed with a gain of 3.45 per cent. The market cap of Adani group companies has reached Rs 7.86 lakh crore.
Earlier, Adani Enterprises, in its explanation to the Stock Exchanges, termed the report of a deal to take a $3 billion loan from the Sovereign Fund as a rumour. After this news came to the fore on Wednesday, stock exchanges had sought clarification from Adani Enterprises, on which the company gave this information in a regulatory filing. So after the Hindenburg report, the Supreme Court has constituted a committee to investigate the allegation of manipulation of Adani Group’s stocks.
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