GQG increases Ambuja stake by 1.8% in Rs 27.50 billion deal
ECONOMY & POLICY

GQG increases Ambuja stake by 1.8% in Rs 27.50 billion deal

GQG Partners, the largest non-promoting shareholder in the Adani Group, increased its stake in Ambuja Cements by an additional 18 per cent, acquiring shares worth nearly Rs 27.50 billion through block deals. This purchase raised the US-based investment firm's total exposure to one of India's largest cement manufacturers from 1.3 per cent to 3.1 per cent. With this transaction, GQG Partners' total investment value in the Adani Group, spread across six companies, increased to approximately Rs 620 billion or $7.4 billion.

In February and March 2023, GQG Partners attracted attention shortly after US-based short-seller Hindenburg Research released a report accusing the Adani Group of significant and widespread corporate misconduct. Despite the group's denial of all allegations, its market capitalization fell by about 65 per cent within five weeks. During this period, GQG Partners, founded by billionaire investor Rajiv Jain, intervened as a supportive investor, committing Rs 154 billion (around $1.9 billion at that time) to acquire minority stakes in four of the ten companies within the group. In the following months, Rajiv Jain continued to invest in the group's companies, putting in an additional Rs 110 billion in June 2023 to acquire stakes in Adani Enterprises, Adani Energy Solutions, and Adani Green Energy. He further increased his investments in August 2023, investing about Rs 87 billion in Adani Power.

GQG Partners, the largest non-promoting shareholder in the Adani Group, increased its stake in Ambuja Cements by an additional 18 per cent, acquiring shares worth nearly Rs 27.50 billion through block deals. This purchase raised the US-based investment firm's total exposure to one of India's largest cement manufacturers from 1.3 per cent to 3.1 per cent. With this transaction, GQG Partners' total investment value in the Adani Group, spread across six companies, increased to approximately Rs 620 billion or $7.4 billion. In February and March 2023, GQG Partners attracted attention shortly after US-based short-seller Hindenburg Research released a report accusing the Adani Group of significant and widespread corporate misconduct. Despite the group's denial of all allegations, its market capitalization fell by about 65 per cent within five weeks. During this period, GQG Partners, founded by billionaire investor Rajiv Jain, intervened as a supportive investor, committing Rs 154 billion (around $1.9 billion at that time) to acquire minority stakes in four of the ten companies within the group. In the following months, Rajiv Jain continued to invest in the group's companies, putting in an additional Rs 110 billion in June 2023 to acquire stakes in Adani Enterprises, Adani Energy Solutions, and Adani Green Energy. He further increased his investments in August 2023, investing about Rs 87 billion in Adani Power.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code