GQG, other investors buy $1 bn stake in Adani firms in block trade

New Delhi: US-based boutique investment firm GQG Partners and other investors have bought close to USD 1 billion worth of stocks in Adani group's two firms from the founding family in large block trades.

The group's flagship Adani Enterprises Ltd saw 18 million shares, or 1.6 per cent, trade in a single block while the renewable energy firm Adani Green Energy saw a total 35.2 million shares, or 2.2 per cent, change hands, sources aware of the matter said.

GQG, which had in March bought shares in four Adani group companies worth USD 1.87 billion and in May increased the stake by USD 400-500 million, is said to be one of the investors buying shares in block deal on Wednesday.

Adani family sold shares in block deals on Wednesday, they said.

The identity of other investors was not immediately known.