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

27 Aug 2024 CW Team

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.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..