A billionaire's entity sold approximately 2.76 per cent of its stake in Ambuja Cements on Friday through an open market transaction, raising Rs 42.51 billion. As per the NSE bulk deal data, Holderind Investments, which is an Adani Group entity, sold 60.8 million shares at a price of Rs 625.5 per share. It was reported that Rajiv Jain's investment fund, GQG Partners, bought shares worth Rs 16.79 billion. Following this purchase, GQG Partners Emerging Markets Equity Fund, which held a 1.35 per cent stake as of June 30, 2024, increased its holding to 2.04 per cent. During the January to March 2024 quarter, GQG Partners reportedly raised its investments in six Adani Group companies by around Rs 83 billion. Other buyers of Ambuja Cements shares included SBI Life Insurance and the National Pension System (NPS) Trust, which acquired shares valued at Rs 5 billion and Rs 4.50 billion, respectively. As of June 30, 2024, the Adani Group held a 70.33 per cent stake in Ambuja Cements, with Holderind Investments holding 50.90 per cent of that stake.