Adani’s American friend sold shares of two companies to a government giant, made huge profits in this way

SBI Mutual Fund acquired stake in Adani Enterprises and Adani Energy Solutions from US-based GQG Partners through an open market transaction. This deal is said to be worth Rs 5,747 crore. According to block deal data of the National Stock Exchange (NSE), SBI Mutual Fund bought 1,64,39,984 shares in Adani Enterprises, the main company of Adani Group, which is equivalent to about 1.3 per cent stake. Apart from this, SBI MF also bought 63,65,796 shares in Adani Energy Solutions, which is equivalent to 0.52 percent stake. These shares were purchased at prices ranging from Rs 1,504.80 to Rs 2,913.40 per share, taking the total transaction value to Rs 5,747.55 crore.
There was a rise in the shares of companies
At the same time, Rajeev Jain’s GQG Partners sold the same number of shares in these two companies of Adani Group through its subsidiary GQG Partners Emerging Markets Equity Fund. This stake purchase comes after SBI Mutual Fund bought 0.45 percent stake in Adani’s main company Adani Enterprises for Rs 1,435 crore last month. Shares of Adani Enterprises closed 2.36 per cent higher at Rs 3,043 per share on the NSE, while Adani Energy Solutions shares closed 3.87 per cent higher at Rs 1,578.80 per share.
Made huge investment in 2023
This stake sale is taking place after the tremendous rise in the shares of Adani Group in the last one year. During this period, many of the group’s companies made a rapid comeback in 2023 from the instability that followed the allegations by American short-seller Hindenburg Research. After that incident, GQG emerged as one of the first large institutional investors to support Adani Group. Starting in 2023, the fund manager invested billions of dollars in several of Adani’s companies, thereby It helped restore investor confidence at a time when foreign institutional participation in the group had weakened.
Big help to Adani Group
Since then, Adani’s companies have focused on reducing debt (deleveraging), strengthening cash flow and improving operational performance. Many of the group’s companies have recorded strong earnings growth, while execution in the infrastructure, energy and transport businesses has remained strong. Market participants will view this latest transaction as primarily an attempt by the group to rebalance the portfolio rather than a change in the fund’s broader investment strategy.
Both companies are present in these sectors
Adani Enterprises, which is the main incubator of this large group, runs businesses like airports, roads, green hydrogen, data centers and mining services. Adani Energy Solutions is one of India’s largest private-sector transmission companies and is expanding its presence in smart metering and distribution infrastructure. Shares of both Adani Enterprises and Adani Energy Solutions are likely to remain under watch as investors assess the impact of stake sale and change in institutional ownership.