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US firm GQG Partners buys $2.1bn stake in three Adani Group companies

US-based investment firm GQG Partners has purchased a stake worth INR154bn ($2.1bn) in three firms belonging to India's Adani Group through block deals.

US firm GQG Partners buys $2.1bn stake in three Adani Group companies
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GQG Partners has acquired an $2.1bn stake in Adani Transmission, Adani Enterprises and Adani Green Energy through block deals, marking the first big investment the conglomerate has attracted since it was targeted by US short-sellers in June. Adani affiliates also sold approximately 210 million shares in the block deal. Analysts saw the move as changing investor sentiment towards the firm.

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