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GQG Partners buys 0.8 per cent stake in Airtel for over $700 million

Thehindubusinessline

Thehindubusinessline · 1y ago

GQG Partners buys 0.8 per cent stake in Airtel for over $700 million

US investment firm GQG Partners has acquired a 0.8% stake in Indian telecom company Bharti Airtel from Singapore Telecommunications (Singtel) for $712.5m. Singtel sold 49 million shares at INR 1,193.7 each, reducing its stake in Airtel to 29%. GQG Partners made headlines in March 2023 when it invested in Adani Group companies. The firm has also invested in other Indian firms, including JSW Energy, Patanjali Foods, IDFC First Bank and GMR Airports Infrastructure, with its India portfolio valued at around $22bn. Singtel said the deal was part of its capital recycling efforts to unlock value.

Related News

Singtel sells Bharti Airtel stake worth Rs 5,849 crore to Rajiv Jain's GQG; shares flat

Money Control

Money Control · 1y ago

Singtel sells Bharti Airtel stake worth Rs 5,849 crore to Rajiv Jain's GQG; shares flat

Singapore telecom operator Singtel has sold a 0.8% equity stake in Bharti Airtel to investment firm GQG Partners for INR 5,849 crore ($782 million). Shares of Bharti Airtel traded flat after the block deal, with around 4.9 crore shares changing hands. Chairman Sunil Bharti Mittal previously stated that he wants the average revenue per user (ARPU) of Bharti Airtel to reach INR 300, as the company reported a net profit of INR 2,442.2 crore for Q3FY24, up 54% year on year.

US investor GQG Partners buys stake for Rs 1,527 crore in IDFC First Bank

IndianStartupNews

IndianStartupNews · 1y ago

US investor GQG Partners buys stake for Rs 1,527 crore in IDFC First Bank

US investor GQG Partners has acquired a 2.58% stake in IDFC First Bank, an Indian private sector bank, for INR 1,527 crore through a block deal. The purchase involved 17.16 crore shares at an average price of INR 89 per share. Concurrently, Cloverdell Investment Ltd sold a 4.2% stake worth INR 2,480 crore. GQG Partners has been actively investing in Adani Group companies in recent months.

GQG invests ₹479 cr more in IDFC First

Livemint

Livemint · 1y ago

GQG invests ₹479 cr more in IDFC First

GQG Partners has increased its stake in IDFC First Bank to 3.36% by purchasing an additional 5.1 crore shares. The investment firm has invested over ₹41,478.7 crore in Indian companies in the past six months. The net proceeds of the stake sale, amounting to ₹478.7 crore, will be used for subscribing to new shares of the bank through the exercise of options, income tax payment, and contributions to pre-committed social causes. GQG Partners has also invested in other Indian companies, including ICICI Bank, HDFC, SBI, ITC, Sun Pharma, and Adani group companies.

Gautam Adani ‘bribery’ case: GQG refuses to sell Adani shares; here’s why | Company Business News

Livemint

Livemint · 9m ago

Gautam Adani ‘bribery’ case: GQG refuses to sell Adani shares; here’s why | Company Business News

GQG Partners, a major foreign investor in the Adani Group, has announced that it will not sell its stake in the conglomerate. The investment giant stated that its exposure to Adani Group stocks is manageable despite market volatility. GQG Partners has a total exposure of $9.7 billion to the Adani Group, representing 6.1% of its total assets. The company believes that the recent indictment against the Adani Group's chairman and others will not have a material impact on the business. GQG Partners stated that it will continue to monitor the situation and assess any new developments.

Vedanta's parent may sell $1 billion worth shares to GQG

Money Control

Money Control · 1y ago

Vedanta's parent may sell $1 billion worth shares to GQG

Vedanta Resources, the parent company of Vedanta Ltd, is reportedly considering selling around $1 billion worth of shares to investment firm GQG Partners. This move is seen as an effort to address the company's high debt burden, which currently stands at $6.4 billion. Vedanta is looking to improve its financial position through measures like debt restructuring and potential divestments. GQG Partners had previously increased its stake in Adani Ports and Special Economic Zone in August 2020.

GQG Partners acquires 2.2 million shares, raises stake in Adani Ports to 5.03%

Livemint

Livemint · 2y ago

GQG Partners acquires 2.2 million shares, raises stake in Adani Ports to 5.03%

Investment firm GQG Partners increased its stake in Adani Ports to 5.03% by purchasing 2.2 million shares. This move followed Deloitte's resignation as the auditor for Adani Ports and SEZ Ltd. Deloitte cited a lack of clarity on transactions mentioned in a Hindenburg Research report and the company's resistance to an independent evaluation as reasons for its premature resignation. Deloitte identified a "material weakness" in the company's internal control system.

GQG takes ₹1,527 cr stake in IDFC First

Livemint

Livemint · 1y ago

GQG takes ₹1,527 cr stake in IDFC First

Cloverdell Investment Ltd, an institutional shareholder in IDFC First Bank, has sold a 4.2% stake in the bank for INR 2,480.3 crore (approximately $335 million) through a bulk deal on the exchanges. The sale included shares purchased by GQG Partners, which has been making significant investments in Indian firms, including Adani group companies and Patanjali Foods Ltd. IDFC First Bank's stock has performed well in recent months, gaining 28.7% in the past three months.

PE Firm ChrysCapital Closes $700 Mn Continuation Fund

Inc42 · 1y ago

PE Firm ChrysCapital Closes $700 Mn Continuation Fund

Private equity firm ChrysCapital has closed a $700 million Continuation Fund, anchored by US-based HarbourVest Partners and European funds LGT Capital Partners and Pantheon Ventures. The fund will allow ChrysCapital to maintain its stake in the National Stock Exchange (NSE) as it acquires ChrysCapital Fund VI's stake in the stock exchange. ChrysCapital claims to be the largest PE firm of its kind in India, having raised over $5 billion across nine funds and invested over $4 billion in more than 100 deals. The announcement comes amidst a series of new fund launches in the VC and PE space in India.

Vedanta block deal: 2.2% equity stake sold for Rs 2,255 crore, GQG likely buyer; stock falls

Money Control

Money Control · 1y ago

Vedanta block deal: 2.2% equity stake sold for Rs 2,255 crore, GQG likely buyer; stock falls

Shares of Vedanta Resources fell on NSE on February 15 after 8.2 crore shares changed hands in block deals. The promoters were reportedly looking to sell stake worth $1 billion in the company to investment firm GQG Partners. Around 2.2 percent equity stake worth Rs 2,255 crore in Vedanta Ltd changed hands in the transactions. The news comes as Vedanta faces substantial outstanding debt of $6.4 billion.

ChrysCapital raises $700 mn to keep NSE stake, return capital to sixth fund’s LPs

VCCircle

VCCircle · 1y ago

ChrysCapital raises $700 mn to keep NSE stake, return capital to sixth fund’s LPs

Private equity firm ChrysCapital has raised $700 million for a "continuation fund" to acquire the stake it holds in the National Stock Exchange (NSE). The fund has been anchored by US-based HarbourVest Partners, and European firms LGT Capital Partners and Pantheon Ventures. ChrysCapital used the fresh capital to buy out its Fund VI from the NSE, allowing it to return money to investors while giving new investors exposure to the Indian stock exchange. ChrysCapital has raised over $5 billion across nine funds and has invested more than $4 billion in over 100 deals.

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