The embattled Adani Group has sold minority stakes in four of its listed companies to US-based GQG Partners for Rs 15,446 crore as the apple-to-airport conglomerate, recovering from a sell-off triggered by a short-seller report, looks to shore up liquidity ahead of the $2 billion debt repayment due in the coming months.

It sold shares in flagship incubating firm Adani Enterprises Ltd (AEL), port company Adani Ports and Special Economic Zone Ltd (APSEZ), electricity transmitting firm Adani Transmission Ltd (AEL) and renewable energy firm Adani Green Energy Ltd (AGEL). “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 about 9% of India’s renewable energy capacity by 2030,” it said on Thursday. The deal happened through secondary market block deals. “The investment has made GQG a key investor in the development and growth of critical Indian infrastructure,” it added.

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.

                Source: PTI