NEW DELHI: The Adani Group has sold stakes worth Rs 15,446 crore to a leading US-based global equity investment boutique GQG Partners, the company said in an official release to the bourses on Thursday.
In a series of secondary block trade transactions, the group sold stakes in four of its companies - Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Transmission Limited and Adani Enterprises Limited.
With this investment, GQG has become a key investor in the in the development and growth of critical Indian infrastructure, the Adani group said.
"We believe that the long-term growth prospects for these companies are substantial," said Rajiv Jain, chairman and chief investment officer of GQG Partners.
"We are pleased to be investing in companies that will help advance India's economy and energy infrastructure, including their energy transition over the long-run."
The share sale is part of the Gautam Adani-led group's comeback strategy after a damning report from an American short seller wiped out more than $140 billion off the conglomerate's market value.
The group has a gross debt of Rs 2.21 lakh crore, about 8 per cent of which is due for repayment by the end of next fiscal year.
In AEL, where the promoters held 72.6% stake prior to the sale, 3.8 crore shares or 3.39% stake was sold for Rs 5,460 crore.
In APSEZ, where promoters held 66 per cent stake, 8.8 crore shares or 4.1% shareholding was sold for Rs 5,282 crore.
As much as 2.8 crore shares or 2.5% stake in of ATL, where promoters held 73.9% shareholding, was sold for Rs 1,898 crore.
In AGEL, where promoters held 60.5% shareholding, 5.5 crore shares or 3.5% stake was sold for Rs 2,806 crore.
"GQG Partners, a leading US-based global equity investment boutique, announced today the completion of a Rs 15,446 crore ($1.87 billion) in a series of secondary block trade transactions in the Adani portfolio companies - APSEZ, AGEL, ATL and AEL," the statement said.
