BAJAJ BROKING
GQG Partners raised its stake in Ambuja Cements by 1% with a ₹1,679 crore investment. The total stake now stands at 2.4%. The transaction underscores the strong interest from global institutional investors in the Adani Group's companies.
GQG Partners, a globally recognized investment firm, has expanded its stake in Ambuja Cements by 1%, investing ₹1,679 crore as part of a broader block deal. As a result, Ambuja Cement’s share price will remain in focus today.
The Adani family, leveraging the current market conditions, raised ₹4,251 crore by selling Ambuja Cements shares. The block deal, a significant event in the Indian stock market, saw GQG Partners emerge as the largest buyer, acquiring around 39% of the total shares sold. This acquisition elevates GQG Partners' total stake in Ambuja Cements to 2.4%.
The Adani family, which currently holds a 67.3% stake in Ambuja Cements, originally acquired a majority stake in the company from Swiss materials firm Holcim in May 2022. This recent share sale aligns with the family's broader strategy to manage their $125 billion portfolio effectively.
The proceeds from this sale are expected to fuel the Adani Group's ambitious investment plans. The group has announced a massive $100 billion investment in the infrastructure sector over the next decade, with $15 billion earmarked for the current financial year.
As part of a broader strategy, the Adani family is also considering reducing its stakes in other group companies by up to 3%, capitalising on the high valuations. There are indications that the family may reduce its 71.71% stake in Adani Power by selling a small portion, possibly between 0.5% and 3%, although no final decision has been made.
The transaction underscores the strong interest from global institutional investors in the Adani Group's companies. The ability of the Adani family to attract significant investments from global firms like GQG Partners highlights the group's robust position in the global market and confidence in its long-term growth prospects.
On Friday, Ambuja Cements’ share price closed at ₹635, marking a 0.51% increase. Over the past 12 months, the stock has delivered an impressive return of 44.70%, reflecting strong investor confidence in the company’s prospects.
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