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Rajiv Jain-led GQG Partners is interested in Adani group companies and has invested in them since May. US-based investment firm GQG Partners has increased its stake in Adani Ports and Special Economic Zone to over five percent. Ignoring market concerns about billionaire Gautam Adani’s group, the investment firm continues to bet on it. After this news, the stock of Adani Ports may be affected on Monday. On Friday, Adani Ports closed at Rs.834.
According to a stock market filing, Florida-based GQG increased its stake in APSE from 4.93 percent to 5.03 percent through a bulk deal. GQG now owns five of the 10 Adani Group companies. It bought 7.73 percent stake in Adani Power Limited on August 16.
Also read: Investors regain confidence in Adani Group, market cap rises to Rs 11 lakh crore on rise in shares
The latest investment comes days after Deloitte resigned as Apcage’s auditor. GQG has so far invested Rs. 38,700 crore has been invested. Earlier this week, US-based boutique investment firm GQG Partners raised Rs. 9,000 crore ($1.1 billion) to buy 312 million equity shares of Adani Power.
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