Adani Ports and Special Economic Zone Ltd.

The Fort Lauderdale, Florida-based -- GQG has raised its stake in Adani Ports & Special Economic Zone (APSEZ) to over 5 per cent from 4.93 per cent by way of bulk deal as it continues to bet on billionaire Gautam Adani's group shrugging off market concerns.

GQG now has a stake in five of the 10 Adani Group firms. It on August 16, 2023 bought 7.73 per cent stake in Adani Power. Promoter group firms Worldwide Emerging Market Holding and Afro ASIA Trade and Investments sold 8.09 per cent stake in Adani Power through block deals on August 16, 2023. Of this, GQG bought 7.73 per cent.  After the stake sale, promoter holding in Adani Power declined to 66.88 per cent from 74.97 per cent. 

Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, is the largest integrated logistics player in India.