GQG Partners Sells Major Stake in Adani Enterprises

US-based investment firm GQG Partners offloaded 58.92 lakh shares of Adani Enterprises Ltd, helmed by billionaire Gautam Adani, on Thursday.

The transaction, amounting to Rs 1,435 crore, was carried out through an open market sale, as disclosed in the National Stock Exchange (NSE) block deal data.

GQG Partners' stake in Adani Enterprises dropped from 1.59% to 1.14%, as SBI Mutual Fund acquired the same number of shares. Subsequently, Adani Enterprises shares surged by 8.85% on the NSE, closing at Rs 2,719 apiece.

(With inputs from agencies.)