US-based GQG Partners trims stake in Adani Power: Report
On Monday, shares of Adani Power surged 20 per cent to hit an adjusted 52-week high of Rs 170.15 following the corporate action.
- Sep 22, 2025,
- Updated Sep 22, 2025 5:27 PM IST
US-based GQG Partners LLC has pared its stake in Adani Power Ltd by about 1 per cent in a $250 million deal last week, Bloomberg reported citing sources. The move signalled fund manager Rajiv Jain's intent to book some profits in one of his most lucrative Adani Group bets.
According to the report, SBI Funds Management Ltd and Citadel Securities LLC were among the buyers of the shares offloaded by long-time backer GQG Partners. The shares changed hands in the Rs 610–625 apiece range.
The transaction price was at a discount to Friday's closing level of Rs 709, before adjusting for the company's one-to-five stock split. On Monday, shares of Adani Power surged 20 per cent to hit an adjusted 52-week high of Rs 170.15 following the corporate action.
The surge prompted exchanges to seek clarification from the company. Responding to the query, Adani Power said, "The movement in the volume of equity shares of the Company is purely due to market conditions and absolutely market driven. The management of the Company neither has any control nor has any knowledge of the reasons for the increase in volume of equity shares of the Company."
The company further added that it has been making and will continue to make disclosures as required under Regulation 30 of Sebi's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Meanwhile, Adani Group stocks extended gains for the second straight session after the Securities and Exchange Board of India (Sebi) dismissed allegations of stock manipulation levelled by US-based short-seller Hindenburg Research.
Earlier, Hindenburg had alleged that Adicorp Enterprises was used to route funds from Adani group companies to listed entity Adani Power, claiming that in 2020, four Adani firms had extended Rs 620 crore to Adicorp, which in turn lent Rs 610 crore to Adani Power without disclosure in multiple lenders' financial statements.
The Sebi order, which covered Adani Ports & SEZ, Adani Power, Adicorp Enterprises, Gautam Shantilal Adani, and Rajesh Shantilal Adani, stated that the regulator would "dispose of the instant proceedings against Noticees without any direction" after reviewing the matter.
US-based GQG Partners LLC has pared its stake in Adani Power Ltd by about 1 per cent in a $250 million deal last week, Bloomberg reported citing sources. The move signalled fund manager Rajiv Jain's intent to book some profits in one of his most lucrative Adani Group bets.
According to the report, SBI Funds Management Ltd and Citadel Securities LLC were among the buyers of the shares offloaded by long-time backer GQG Partners. The shares changed hands in the Rs 610–625 apiece range.
The transaction price was at a discount to Friday's closing level of Rs 709, before adjusting for the company's one-to-five stock split. On Monday, shares of Adani Power surged 20 per cent to hit an adjusted 52-week high of Rs 170.15 following the corporate action.
The surge prompted exchanges to seek clarification from the company. Responding to the query, Adani Power said, "The movement in the volume of equity shares of the Company is purely due to market conditions and absolutely market driven. The management of the Company neither has any control nor has any knowledge of the reasons for the increase in volume of equity shares of the Company."
The company further added that it has been making and will continue to make disclosures as required under Regulation 30 of Sebi's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Meanwhile, Adani Group stocks extended gains for the second straight session after the Securities and Exchange Board of India (Sebi) dismissed allegations of stock manipulation levelled by US-based short-seller Hindenburg Research.
Earlier, Hindenburg had alleged that Adicorp Enterprises was used to route funds from Adani group companies to listed entity Adani Power, claiming that in 2020, four Adani firms had extended Rs 620 crore to Adicorp, which in turn lent Rs 610 crore to Adani Power without disclosure in multiple lenders' financial statements.
The Sebi order, which covered Adani Ports & SEZ, Adani Power, Adicorp Enterprises, Gautam Shantilal Adani, and Rajesh Shantilal Adani, stated that the regulator would "dispose of the instant proceedings against Noticees without any direction" after reviewing the matter.