GQG Partners sells Rs 5,750 crore Adani stakes

What happened in the Adani block deals

GQG Partners pared its holdings in two Adani Group companies through block deals worth about Rs 5,750 crore, with SBI Mutual Fund buying the entire lot. The transactions were reported through NSE block deal data and took place on June 5, 2026. The selling entity was GQG Partners Emerging Markets Equity Fund. The two stocks involved were Adani Enterprises and Adani Energy Solutions. The deals were executed at disclosed prices per share, with corresponding buy-side block deals reflecting the same prices. Market participants viewed the trades as portfolio rebalancing following a strong recovery in Adani Group stocks over the past year. The activity also highlighted the capacity of domestic institutions to absorb large equity blocks.

The June 5 trades: Adani Enterprises and Adani Energy Solutions

The larger of the two trades involved Adani Enterprises, where 1.64 crore shares were sold at Rs 2,913.4 apiece. This translated into a deal value of about Rs 4,789.6 crore. In the second trade, GQG sold 63.65 lakh to 63.66 lakh shares of Adani Energy Solutions at Rs 1,504.8 per share. The value of this Adani Energy Solutions transaction was around Rs 957.9 crore to Rs 958 crore, as per the figures cited. Taken together, the two June 5 block deals were valued at about Rs 5,747 crore to Rs 5,750 crore. SBI Mutual Fund acquired the shares in both companies at the same prices through corresponding block deals. The June 5 activity resulted in a large transfer of equity from an overseas investor to a domestic fund house in one session.

Who sold and who bought: GQG Partners and SBI Mutual Fund

The seller in the disclosed block deals was GQG Partners Emerging Markets Equity Fund, associated with investor Rajiv Jain. The buyer for the entire stake in the June 5 transactions was SBI Mutual Fund. Separately, the report also referred to SBI Equity Hybrid Fund holdings in Adani Energy Solutions. As of March 2026, SBI Equity Hybrid Fund held a 3.67 percent stake in Adani Energy Solutions, according to the data cited. As of March 2026, GQG Partners Emerging Markets Equity Fund owned a 1.91 percent stake in Adani Energy Solutions and a 1.59 percent stake in Adani Enterprises. The June 5 purchase was described as SBI Mutual Fund acquiring a 1.27 percent stake in Adani Enterprises and buying 63.65 lakh shares, or 0.52 percent, in Adani Energy Solutions. The reporting positioned the flow of shares as domestic institutional demand meeting a large sell order in the block deal window.

Key numbers from the block deals

The disclosed numbers point to two clear pricing benchmarks for the June 5 trades. Adani Enterprises was transacted at Rs 2,913.4 per share for 1.64 crore shares. Adani Energy Solutions was transacted at Rs 1,504.8 per share for about 63.65 lakh shares. The values reported were approximately Rs 4,789.6 crore for Adani Enterprises and Rs 957.9 crore for Adani Energy Solutions. Combined, the deal value was reported around Rs 5,747 crore, and was also rounded to about Rs 5,750 crore in the report. The buyer was stated to have acquired the entire offered quantity via matching block deals. The transactions were referenced as part of broader portfolio moves after a strong recovery in Adani Group shares over the past year.

Earlier Adani Enterprises sale: Rs 1,435 crore block deal

In another reported block deal involving Adani Enterprises, GQG Partners offloaded nearly 58.92 lakh shares for approximately Rs 1,435.16 crore. The average sale price in that transaction was Rs 2,435.60 per share, as per NSE block deal data cited. SBI Mutual Fund was reported as the buyer for the shares in that deal as well. The report described the stock rallying sharply during that session, and also noted Adani Enterprises closing at Rs 2,719 on the NSE after rising 8.85 percent on a day it hit a 52-week high. The sale size was described as a 0.45 percent stake in Adani Enterprises. Following that transaction, GQG’s stake in Adani Enterprises was reported at 1.14 percent, down from 1.59 percent earlier, according to the same report. The article noted that the sale was not described as an exit, but as a trimming of the position.

Summary table: reported transactions and prices

Why the trades are being seen as portfolio rebalancing

The reporting framed the June 5 selling by GQG Partners as portfolio rebalancing after a strong recovery in Adani Group stocks over the past year. That context is consistent with the pattern of trims rather than a complete exit, as described in the Adani Enterprises Rs 1,435 crore block deal coverage. The earlier Adani Enterprises transaction explicitly described GQG’s position being reduced, not closed. In the June 5 trades, the block deal window enabled a large position change without spreading orders across the open market. The report also noted that the domestic institutional system showed absorption capacity by taking the full quantity at disclosed prices. The buyer being the same large mutual fund house across deals reinforced the idea that domestic funds are willing to add exposure at scale when liquidity is available.

What it signals about domestic mutual fund positioning

The article noted that Indian mutual funds are significantly increasing their stakes in Adani Power, Adani Green Energy, and Adani Energy Solutions. In that backdrop, SBI Mutual Fund’s purchases in Adani Enterprises and Adani Energy Solutions add another data point on domestic accumulation via negotiated block windows. The reported holdings as of March 2026 also show that SBI’s schemes already had exposure to at least one of the companies, with SBI Equity Hybrid Fund holding 3.67 percent in Adani Energy Solutions. The June 5 purchase of 0.52 percent in Adani Energy Solutions was described as an additional buy from GQG Partners. For investors, the trades illustrate how institutional ownership can shift quickly between offshore and onshore pools when large blocks come up for sale. The reporting did not provide any forward guidance from either party, but it did clearly document pricing, quantities, and counterparties.

Market impact and what to watch next

The immediate market impact described in the broader coverage was primarily in trading activity and large-volume transfers through the NSE block deal mechanism. The Adani Enterprises Rs 1,435 crore block deal was also tied in reporting to a sharp rally and a 52-week high session, with the stock closing at Rs 2,719 on the NSE after an 8.85 percent rise on that day. For June 5, the key market takeaway was the scale of the transfer, about Rs 5,750 crore across two Adani companies, and the fact that a single buyer absorbed the entire supply. The disclosures also provide updated reference points for institutional ownership, including GQG’s reported March 2026 stakes in Adani Enterprises and Adani Energy Solutions. Investors will watch for further block deal disclosures, changes in mutual fund scheme portfolios, and any additional filings that clarify post-transaction holdings. Any subsequent large trades in these names are likely to be interpreted in the same framework of portfolio rebalancing versus conviction changes, depending on size and frequency.