GQG Group Said to Invest $1 Billion in Adani Flagship, Green Arm
- Shares of Adani Enterprises surge after the block trades
- Adani Group firms are still trading below pre-Hindenburg level
The Adani Group headquarters, left, in Ahmedabad.
Photographer: Prakash Singh/BloombergThis article is for subscribers only.
GQG Partners LLC and other investors bought stakes worth about $1 billion in two Adani Group companies from the family trust, according to people with knowledge of the matter.
The investors bought shares in billionaire Gautam Adani’s flagship company and its green arm Adani Green Energy Ltd., said the people, who asked not to be named as they’re not authorized to speak on the matter. Large block trades were seen in both companies in early Mumbai trading on Wednesday.