Meanwhile, the BSE benchmark Sensex was trading lower by 98 points at 62,690 levels.

Last month, veteran investor Rajiv Jain-led GQG Partners raised its stake in Adani Group by about 10%, valued at around $3.5 billion. The American equity investment firm also proposed to participate in the group’s future fundraising activities, terming it as "the best infrastructure assets available in India".

In March this year, Jain, the co-founder and chairman of GQG Partners, acquired minority stakes in four of the listed Adani Group companies for ₹15,446 crore. Listed on the Australian Stock Exchange, GQG Partners had acquired stakes in flagship firm Adani Enterprises Limited (AEL), Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), and Adani Transmission (ATL).

As per the data available on the BSE, GQG brought a 3.4% stake in Adani Enterprises for about ₹5,460 crore, 4.1% in Adani Ports for ₹5,282 crore, 2.5% in Adani Transmission for ₹1,898 crore, and a 3.5% shares in Adani Green Energy for ₹2,806 crore through a series of secondary block trade transactions.

The investment by GQG was the first major capital infusion in Adani Group since the U.S.-based short-seller Hindenburg Research’s critical report on the conglomerate came out on January 24, 2023. The report triggered sell-off in group shares resulting in a huge market loss for most of the listed entities.

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prepayment of loans

Adani Group repays loans worth $2.65 bn; stocks rise up to 4%