Adani Enterprises block deal 2026: GQG sells 5.9m shares

Deal snapshot: what happened on NSE

GQG Partners, backed by investor Rajiv Jain, sold shares of Adani Enterprises Ltd through its affiliate, the GQG Partners Emerging Markets Equity Fund, in a block deal on the National Stock Exchange (NSE). Exchange bulk-deal data showed the fund sold 5,892,423 shares. The transaction value was reported at ₹1,435.16 crore. The average sale price was ₹2,435.60 per share. SBI Mutual Fund was the buyer for the shares, according to the exchange data referenced in the report. The deal is notable because it reduced GQG’s stated holding in Adani Enterprises after a period when the firm had been an active buyer in Adani group names.

Size and pricing of the transaction

The reported average price for the block deal was ₹2,435.60 per share. Based on the same data, the total deal size came to ₹1,435.16 crore. The sale involved 58.92 lakh shares (5.892 million shares), aligning with the 5.9 million figure cited. The reporting also listed the last close price for Adani Enterprises at ₹2,499.85. In the same context, an average target price of ₹2,715.00 was cited. The block price therefore sat below the last close shown in the article data. The transaction was executed via the block/bulk deal mechanism on the NSE, which is typically used for large, pre-arranged trades.

SBI Mutual Fund as the buyer

SBI Mutual Fund bought the shares at an average price of ₹2,435.60 per share, according to the same exchange data. The purchase adds to SBI Mutual Fund’s recent involvement with Adani Enterprises-related capital market activity mentioned in the article. The report noted that SBI Mutual Fund had previously participated in Adani Enterprises’ ₹25,000 crore rights issue in December. While the article does not specify which SBI Mutual Fund schemes bought the block, it confirms SBI Mutual Fund as the counterparty on the buy side. For market participants, the identity of the buyer matters because it indicates where a large chunk of stock has shifted, from an offshore institutional holder to a domestic institutional investor.

How GQG’s stake changed after the sale

Following the transaction, GQG Partners’ stake in Adani Enterprises fell to 1.14%, the report said. That compares with 1.59% earlier, as stated in the same report. Separately, the article also said that as of March 2026, GQG Partners had around a 4% stake in Adani Enterprises. The report also referenced a broader history of GQG’s Adani exposure, including purchases made earlier at different price levels. What is clear from the disclosed post-trade figure is that the latest block deal lowered GQG’s reported ownership percentage in Adani Enterprises.

Stock price context mentioned in the report

The information provided included a last close of ₹2,499.85 for Adani Enterprises. Another price point mentioned was that Adani Enterprises was trading at ₹2,433.85, down 0.11%, at the time of reporting in a separate market update included in the supplied text. The text also referenced a close at ₹2,439 on the NSE in another cited update, down 0.93% on the day in that instance. These references indicate the stock was moving modestly around the block deal price zone, with small percentage changes reported. The article data does not provide intraday high-low ranges or volumes, so the immediate liquidity impact is limited to the reported block trade size and the mentioned prices.

Key deal numbers at a glance

Background: GQG’s earlier Adani investment (March 2023)

The supplied material also included details from a March 2, 2023 announcement on Adani portfolio companies completing a secondary equity transaction with GQG Partners. That disclosure stated GQG Partners completed a ₹15,446 crore investment across Adani Ports and Special Economic Zone (APSEZ), Adani Green Energy (AGEL), Adani Transmission (ATL) and Adani Enterprises (AEL). Jefferies India Private Limited was identified as the sole broker that introduced the parties and brokered that transaction. The table in that announcement specified share counts, final prices, and the INR crore allocation by company. For Adani Enterprises in that 2023 secondary transaction, the disclosure listed 38,701,168 shares at a final price of ₹1,410.86 and an allocation of ₹5,460 crore.

Other data points cited on GQG’s Adani trades

The material also referenced additional block-deal activity involving GQG and Adani group stocks. One update said GQG made a fresh ₹5,100 crore investment across five group companies through block deals, with the biggest allocation to Adani Enterprises where it bought 53.42 lakh shares at ₹2,462 each for ₹1,315.2 crore, with Reliance Institutional Retirement Trust Series Eleven named as the seller. Another section referenced the end of the September 2025 quarter holdings across multiple Adani companies, including a 1.75% holding in Adani Enterprises representing 2.01 crore shares. These references provide context that GQG has both bought and sold meaningful quantities of Adani group shares over time via block deals.

Market impact: what this shift in ownership signals

A block deal of ₹1,435.16 crore is large enough to change near-term ownership composition, especially when it moves stock from a foreign institutional setup to a domestic mutual fund buyer. The transaction also reduces GQG’s reported stake in Adani Enterprises to 1.14%, based on the figures in the report. For investors tracking flows, this matters because both the seller and buyer are institutionally significant. The article data does not describe any operational change at Adani Enterprises tied to the trade, so the immediate implication is limited to shareholding and trading dynamics. The presence of a disclosed average target price of ₹2,715.00 alongside a last close of ₹2,499.85 provides the valuation backdrop cited in the supplied feed, but it does not indicate how that target was computed.

Conclusion

The NSE block deal saw GQG Partners’ emerging markets equity fund sell 5,892,423 Adani Enterprises shares for ₹1,435.16 crore at an average of ₹2,435.60 per share, with SBI Mutual Fund buying the stock. Post-transaction, GQG’s stake in Adani Enterprises was reported at 1.14%, down from 1.59%. The broader context in the supplied material highlights that GQG has been an active participant in Adani group block trades since at least March 2023, including a disclosed ₹15,446 crore secondary investment across four Adani portfolio companies. дальней updates for investors will typically come from exchange deal disclosures and subsequent shareholding filings that reflect the new ownership distribution.