GQG Partners biggest buyer of Ambuja shares in Adani-owned co's stake sale
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 23 2024
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Source: Reuters
GQG Partners' Investment: U.S. investment firm GQG Partners Inc became the largest buyer in a stake sale of India's Ambuja Cements, purchasing 26.8 million shares worth $500 million from Adani-owned Holderind Investments, which is looking to reduce its debt.
Market Reaction and Other Investors: Following the stake sale, shares of Ambuja Cements initially rose by 4.5% before closing up 0.3%, with other notable investors including SBI Life Insurance, Norges Bank, and The Vanguard Group participating in the sale.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
