Rajiv Jain’s GQG Investment In Adani Stocks Gets 150% Returns To $ 10 Bn
As of March 2023, Jain's investments in four key Adani companies totalled to Rs 15,400 crore (approximately USD 1.88 billion)
GQG Partners, led by Chairman and Chief Investment Officer Rajiv Jain, seen a substantial increase in its investments in the Adani Group over the past year, with a 150 per cent appreciation.
This growth came despite concerns raised by short seller Hindenburg Research in January 2023 regarding corporate governance and debt issues within the conglomerate, which led to a significant correction in Adani group stock prices.
As of March 2023, Jain's investments in four key Adani companies totalled to Rs 15,400 crore (approximately USD 1.88 billion).
These investments were distributed across Adani Enterprises (Rs 5,400 crore), Adani Ports and Special Economic Zone (Rs 5,300 crore), Adani Enterprises Solutions (Rs 1,900 crore), and Adani Green Energy (Rs 2,850 crore).
According to recent reports, the value of these investments has now increased to USD 4.8 billion, representing a significant return on investment for GQG Partners.
In June 2023, Jain further increased his investments in Adani Group, adding to his existing stakes in the company. The new investments totaled Rs 4,100 crore in Adani Enterprises (AEL), Rs 2,650 crore in Adani Enterprises Solutions (AESL), and Rs 4,600 crore in Adani Green Energy.
This additional investment of USD 1.34 billion has since appreciated in value to USD 2.35 billion. In August 2023, Jain made another significant investment, injecting Rs 8,700 crore (USD 1.1 billion) into Adani Power. This investment has also seen significant growth, with its value now standing at USD 2.7 billion.
Overall, Jain's total investments in Adani Group amount to USD 4.3 billion, which have collectively appreciated to a value of nearly USD 10 billion.
