Australia-listed investment firm GQG Partners GQG.AX and other investors have bought around $1 billion of additional stake in India’s Adani Group companies, a report by the Economic Times newspaper said on Wednesday.

The investors have bought 2.2% stake comprising of 35.2 million shares in Adani Green Energy Ltd ADNA.NS and 1.6% stake comprising of 18 million shares in Adani Enterprises Ltd ADEL.NSin block deals, the report added.

GQG Partners, Adani Enterprises and Adani Green Energy did not immediately respond to Reuters’ request for comment.

GQG Partners has been ramping up its investment in the Indian conglomerate ever since a short-seller’s critical report in January sparked a stock rout, wiping out nearly $147 billion from Adani companies’ market value.

Last month, the investment firm upped its stake in Adani by about 10%.

Australia-listed shares of GQG closed up 0.7% on Wednesday.

Shares of Adani Green Energy changed hands in 52 blocks deals as of 12:27 p.m. IST, while about 18.2 million shares of Adani Enterprises were traded in eight blocks, according to Refinitiv data

Shares of Adani Enterprises were last up 4.5% and those of Adani Green Energy were down 1.6% as of 12:27 p.m. IST.
Source: Reuters (Reporting by Manvi Pant in Bengaluru; Editing by Nivedita Bhattacharjee)