- Investments across Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL)
- GQG is one of the world’s leading Global and Emerging Markets investors with exceptional long-term track records. GQG Partners manages more than AUD$130 billion (USD $92 billion) in client assets as of 31 January 2023
- Listed on the Australian Stock Exchange, GQG Partners is the winner of Morningstar Australia’s Global Equity Manager of the Year for 2022.
- GQG is investing in Adani Portfolio Companies which own and operate the largest airport and port platform in India, largest private sector transmission and distribution platform in India and that will generate ~9% of India’s renewable energy capacity by 2030.
- Jefferies India Private Limited introduced the parties and brokered the transaction.
NE BUSINESS BUREAU
AHMEDABAD, MAR 2
GQG Partners, a leading US based Global Equity investment boutique, announced on Thursday the completion of a Rs 15,446 Crore (USD 1.87 billion) in a series of secondary block trade transactions in the Adani Portfolio companies – Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Transmission Limited and Adani Enterprises Limited (all listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)).
The Adani Group welcomes the order of the Hon'ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail.
— Gautam Adani (@gautam_adani) March 2, 2023
The investment has made GQG a key investor in the development and growth of critical Indian infrastructure. Jefferies India Private Limited acted as a Sole Broker for the transaction.
Rajiv Jain, Chairman and CIO of GQG Partners, said: “I am excited to have initiated positions in the Adani companies. Adani companies own and operate some of the largest and most important infrastructure assets throughout India and around the world. Gautam Adani is widely regarded as among the best entrepreneurs of his generation. We believe that the long-term growth prospects for these companies are substantial, and 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.”
Jugeshinder (Robbie) Singh, Group CFO of Adani Group, said: “We are delighted to complete this landmark transaction with GQG. We value GQG’s role as a strategic investor in our infrastructure and utility portfolio of sustainable energy, logistics and Energy Transition. This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies.”
The key transaction details are
| Adani Portfolio Company | # of shares | Final price | INR Cr | USD Bn |
| AEL | 38,701,168 | 1,410.86 | 5,460 | 0.66 |
| APSEZ | 88,600,000 | 596.20 | 5,282 | 0.64 |
| ATL | 28,400,000 | 668.40 | 1,898 | 0.23 |
| AGEL | 55,600,000 | 504.60 | 2,806 | 0.34 |
| Total | 15,446 | 1.87 |
India’s total electricity generating capacity is more than 390GW, and renewables exceed 100 GW. Last year at the United Nations Climate Change Conference, the Indian government announced that by 2030 India’s non-fossil fuel capacity would be 500 GW. Adani Group plans to supply the country with 45 GW (9% of India’s renewable energy) by 2030.
Adani Electricity Mumbai Limited, the distribution arm of Adani Transmission Limited (committed to Net Zero by 2050) has legally covenanted targets to increase the renewable energy penetration from 3% in FY21 to 60% by FY27. APSEZ has committed to being carbon neutral by 2025 and to be a leader in the development of sustainable transport utility. AEL, through its wholly owned subsidiary Adani New Industries Limited has committed to build, over the next 9 years, a new green hydrogen vertical focused on decarbonization of industrial energy and mobility.
