GQG Partners buys additional stake in Adani Ports totalling to 5.03% now

Investment firm GQG Partners increased its ownership in Adani Ports And Special Economic Zone Ltd (APSE.NS) to 5.03% by purchasing additional shares, according to a disclosure statement issued on Saturday.

Previously holding a 4.93% stake in Adani Ports, GQG Partners acquired an additional 0.10% stake, equivalent to 2.2 million shares of the company, through a bulk transaction as detailed in the disclosure released late on Saturday.

This investment move follows the departure of Deloitte as the auditor for Adani Ports, marking the first such instance following a critical report published by U.S. short-seller Hindenburg Research on the Adani group in January. The Adani group has refuted all allegations made by Hindenburg.

In a report from last Wednesday, Reuters noted that GQG Partners obtained an 8.1% ownership in Adani Power through a block deal, involving an investment of $1.1 billion.