GQG pares Rs 8,000 crore of Adani stakes in September quarter as FPI bets turn mixed
In a significant move, GQG Partners divested approximately ₹8,000 crore in stakes across five companies of the Adani Group during the September quarter. While some firms saw an uptick in foreign portfolio investments, others faced declines. The most substantial decrease was seen in Adani Energy Solutions, which dropped from 4.14% to 1.71%.
Mumbai-based investment firm GQG Partners trimmed its stakes in Adani Group companies by an estimated ₹8,000 crore in the September quarter, amid a patchwork of foreign portfolio investor (FPI) activity. The reductions came as some overseas investors increased their holdings in select Adani firms, while others lowered their exposure in others.
Founded by Rajiv Jain and managing assets exceeding $156 billion, GQG made these cuts despite overall FPI investments rising in Adani Enterprises and Adani Ports, falling in Adani Power, Adani Green Energy, and Adani Energy Solutions during the same period.
GQG's largest stake reduction was in Adani Energy Solutions, where its position declined from 4.14% in June to 1.71%, marking the sharpest cut among the five group stocks where the firm divested. By the end of September, GQG's total holdings across Adani Group companies were valued at approximately ₹39,270 crore, down from ₹47,290 crore a quarter earlier.
In the first half of 2026, GQG had already shed around ₹13,200 crore in stakes, following its significant purchases of Adani Group companies in 2023 amid a market downturn triggered by Hindenburg Research's allegations.
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