GQG Partners and SBI Mutual Fund Acquire Over 1% Stake in JSW Steel for Rs 3,150 Crore

GQG Partners and SBI Mutual Fund Acquire Stake in JSW Steel

On May 18, GQG Partners and SBI Mutual Fund acquired a combined stake of over 1.02 percent in JSW Steel, one of India's leading steel manufacturers, from the promoter entity via open market transactions. The acquisition led to a 1.09 percent rise in JSW Steel shares on the National Stock Exchange, with the stock trading above all key moving averages.

GQG Partners Emerging Markets Equity Fund, owned by Rajiv Jain and Tim Carver-founded GQG Partners, acquired 1.5 crore shares, representing a 0.61 percent stake in JSW Steel, for Rs 1,890 crore. SBI Mutual Fund, through its SBI Arbitrage Opportunities Fund, held a 1.16 percent stake in JSW Steel as of March 2026.

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JSW Energy, the promoter entity, sold the shares at Rs 1,260 per share, reducing its stake from 2.86 percent as of March 2026.

Meanwhile, PNGS Reva Diamond Jewellery witnessed promoter Govind Vishwanath Gadgil acquiring additional 1.6 lakh shares, representing a 0.5 percent stake, for Rs 5.85 crore at a price of Rs 365.78 per share. Despite this stake buy, the stock fell 2.37 percent to Rs 365.90 on the National Stock Exchange.

Priya Singh Aggarwal acquired 1 lakh shares in EFC (I) at Rs 14.74 per share, valued at Rs 14.74 lakh, while Ragaswaroopa Technologies picked up 1.19 lakh shares for Rs 17.95 lakh at Rs 15.05 per share. Sageone Flagship Growth 2 Fund sold 1.47 lakh shares in EFC (I) at Rs 15.08 per share, valued at Rs 22.24 lakh, and Forbes EMF offloaded 89,320 shares for Rs 13.39 lakh at Rs 15 per share.

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As of March 2026, Sageone through its Flagship Growth 2 Fund and Flagship Growth Oe Fund held a combined 2.53 percent stake in EFC (I).