GQG Partners, a US-based boutique investment firm, has recently made a substantial investment of $1.1 billion in Adani Power, news agency PTI reported. This investment secures them an 8.1% ownership stake in the company. According to insiders familiar with the situation, GQG Partners acquired a significant portion of Adani Power’s shares – precisely 31 crore shares – in what is noted as the largest secondary market equity transaction to date.
The sources further revealed that the Adani family, who are the promoters of the company, divested this stake for a value exceeding Rs 9,000 crore, equivalent to $1.1 billion. The transaction took place on Wednesday.
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