According to The Economic Times, the Qatar Investment Authority purchased shares of Adani Green Energy for $500 million.
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| Adani Group HQ |
According to the publication, which cited unnamed sources, it's probable that the acquisition of the Qatar Investment Authority happened as part of a larger transaction that saw the sale of around 3% of the market share of green energy to Gautam Adani Company on Monday.
Adani, who has been attempting to recover from the crisis caused by Hindenburg Research, will benefit from the QIA's most recent investment.
The US-based short seller accused the Adani group of fraud in January, but the group vigorously denied any wrongdoing. After GQG Partners, it signals yet another sizable investment in the Indian commercial giant.
Source: Reuters/Bloomberg