Rajiv Jain's GQG Partners Sees 252% Growth From Investments In Adani Group Companies
The total investment of about $4.3 billion in the ports-to-power conglomerate is currently valued at $11.48 billion.
Billionaire Rajiv Jain-backed GQG Partners' investments and its clients in Adani Group swelled by 252% to Rs 95,386 crore over the past year.
In March 2023, a US-based investment firm invested a sum of Rs 15,400 crore across four Adani companies. The firm invested Rs 5,400 crore in Adani Energy Ltd. and Rs 5,300 crore in Adani Ports & Special Economic Zone Ltd. during the month. It also invested Rs 1,900 crore and Rs 2,850 crore in Adani Energy Solutions Ltd, and Adani Green Energy Ltd., respectively. Total invested value of $1.88 billion is now valued at $4.8 billion.
During March 2023, GQG Partners infused a total of Rs 10,900 crore across three companies. The $1.34-billion investment is now valued at $2.35 billion.
For the month of August, the Rajiv Jain-backed investment firm parked a total of Rs 8,700 crore solely in Adani Power Ltd. The $1.1-billion investment is now valued at $2.7 billion.
GQG Partners, which manages over $100 billion in assets, operates two funds: the GQG Partners Emerging Markets Equity Fund and the Goldman Sachs-GQG Partners International Opportunities Fund, through which it owns Adani shares.
Post the short-seller Hindenburg Research's allegations, which led to shares falling, GQG Partners' and its clients have been picking up stake in Gautam Adani's group companies.
The company is betting on the execution ability of the Adani Group in its core infrastructure sector, Jain had told NDTV Profit earlier. He has bought into a conglomerate led by "an entrepreneur who does a phenomenally good job in execution".
The total investment of about $4.3 billion in the ports-to-power conglomerate is currently valued at $11.48 billion.
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