SBI Mutual Fund on Friday bought stakes in Adani Enterprises and Adani Energy Solutions from US-based GQG Partners for Rs 5,747 crore through open market transactions.
SBI Mutual Fund purchased 1,64,39,984 shares representing nearly a 1.3 per cent stake in Adani Enterprises, the flagship entity of the Adani Group, according to block deal data on the National Stock Exchange (NSE).
In addition, SBI MF also acquired 63,65,796 shares, amounting to a 0.52 per cent stake in Adani Energy Solutions.
The shares were picked up in the price range of Rs 1,504.80-2,913.40 apiece, taking the combined transaction value to Rs 5,747.55 crore.
Meanwhile, Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, offloaded the same number of shares in the two Adani group companies.
The stake buy comes after SBI Mutual Fund last month acquired a 0.45 per cent stake in Adani’s flagship firm Adani Enterprises, for Rs 1,435 crore.
Shares of Adani Enterprises rose 2.36 per cent to close at Rs 3,043 apiece on the NSE, while the scrip of Adani Energy Solutions climbed 3.87 per cent to settle at Rs 1,578.80 apiece on the exchange.