According to an article in the Economic Times, Abu Dhabi National Energy Company PJSC (TAQA) is considering investing up to $2.5 billion in Indian billionaire Gautam Adani’s power company. On the Abu Dhabi Securities Exchange (ADX), TAQA is the second-largest stock.
The US-based boutique investment firm GQG Partners contributed USD 1.1 billion to Adani Power on Wednesday in order to acquire an 8.1% stake in the business. In the largest-ever secondary market equity sale, GQG Partners purchased 31 crore shares of Adani Power.
In response to corporate governance worries raised by US-based short seller Hindenburg, GQG Partners decided to buck market trends by purchasing Adani stock.
Through open market transactions, GQG acquired a roughly 3% share in Adani Transmission in July for a total of 2,666 crore. A new investment was made two days after GQG Partners, the IHC Group, and other parties invested $1 billion in Adani Group stock.
Through block agreements, Rajiv Jain’s GQG and other investors acquired further shares in the conglomerate’s equities — Adani Enterprises and Adani Green Energy — totaling $1 billion.
Adani Green Energy, Adani Transmission, Adani Enterprises, and Adani Ports and Special Economic Zone are the four Adani Group firms that GQG invested in earlier in March for a total of Rs. 15,446 crore.
Resurgent Trade and Investment Ltd. and Emerging Market Investment DDC, two promoter firms, have reportedly purchased new shares of Adani Ports on the open market, according to information the business provided with Indian stock market exchanges.
In the meanwhile, on Wednesday, the Goldman Sachs GQG Partners International Opportunities Fund added to its holdings in Adani Power Ltd.
On August 16, 2023, Goldman Sachs GQG Partners International Opportunities Fund carried out this single seller, one buyer transaction. Through a mass transaction, the handshake valued 2,876 crore was carried out.
