GQG Trims Holding in Adani’s Largest Unit After 100% Gain (2)

GQG Partners LLC sold about 1% equity in Adani Group’s power unit last week in a $250 million deal, according to people familiar with the matter, signaling fund manager Rajiv Jain’s intent to take some profits on one of his most lucrative bets.

SBI Funds Management Ltd. and Citadel Securities LLC were among the buyers in the open-market deals, in which 35 million shares were sold in the range of 610 rupees to 625 rupee apiece, one of the people said asking not to be identified as the details are private. The sale represents a near 100% gain on GQG’s ...