In just 15 trading sessions, GQG Partners’ investment in Adani Green Energy has resulted in over 100% returns for the Australian asset management firm. Over the course of the time, GQG Partners has increased by over 104%, or Rs 2,900 crore.
In the midst of substantial volume, AGEL closed at Rs 1,031.55 at 02:07 pm in the 5% upper circuit. At the hour of composing this report, the typical exchanging volume over the counter hopped more than three-crease, with a joined 13.4 million offers changing hands on the NSE and BSE. On both exchanges, there are combined pending buy orders for approximately 300,000 shares.
Through a bulk deal on the National Stock Exchange (NSE), on March 2, GQG Partners acquired 55.6 million equity shares of AGEL for Rs 2,806 crore at a price of Rs 504.60 per share. The investment is now worth Rs 5,735 crore based on its current value, which is 104% or Rs 2,930 crore more than the acquisition price.
Meanwhile, the stock has gained 135% since hitting its 52-week low of Rs 439.35 on February 28, 2023. However, AGEL’s price is still 66% lower than its all-time high of Rs. 3,048 set on April 19, 2022.
Together with AGEL, GQG Partners had invested Rs 15,446 crore, or $1.87 billion, in Adani Enterprises (AEL), Adani Transmission (ATL), and Adani Ports and Special Economic Zone (APSEZ).
The total investment in these four businesses is worth Rs 21,986 crore at the current price, which is 42% or Rs 6,539 crore more than the buyout price. GQG Partners’ exposure to ATL increased by 70%, followed by AEL by 31% and APSEZ by 11%.
GQG is making investments in Adani portfolio companies, which are the largest private sector transmission and distribution platform in India and the owner and operator of India’s largest airport and port platform. By 2030, Adani portfolio companies are expected to power India’s renewable energy. will generate approximately 9% of the available energy.
The Adani portfolio’s renewable energy platform is called AGEL. With a locked-in growth of 20.4 gigawatts (GW) across operational, under-construction (UC), awarded, and acquired assets catering to investment-grade counterparties, the company has one of the largest renewable portfolios in the world.
Additionally, the company designs, constructs, owns, manages, and maintains grid-connected utility-scale solar and wind farm projects. AGEL focuses on helping India achieve its sustainability goals and decarbonizing electricity generation.
Cash flows at Holdco may be able to have an outlook Is if there is continued reduction in net leverage, reasonable certainty on the future debt nexus of debt and equity funding, timely completion of UC projects, asset stabilization, and strong operating parameters. India Ratings and Research (Ind-Ra) has changed its rating to stable as a reason for the change.
On March 7, Ind-Ra upgraded AGEL’s outlook from “Stable” to “Negative” while maintaining its “IND A+” long-term issuer rating.
GQG Partners Inc. has been hired by the promoters to increase their liquidity buffers. raised $1.87 billion from However, the rating agency stated that Ind-Ra will continue to monitor the promoters’ ability to infuse more equity for UC projects and working capital requirements as required given the commitment to reduce and repay outstanding debt in lieu of shares at the promoter level. Was.
