Adani gets $1.87 bn investment from US’ GQG; first major stake sale in Adani firms since Hindenburg
US boutique investment firm GQG Partners has bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller’s critical report sparked a stock rout.
The group’s seven listed companies have lost some $135 billion in market value since Jan. 24, when Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation—allegations the billionaire Gautam Adani-led group has denied but led it to call off a $2.5 billion share sale.
