A strong recovery in the Adani Group firms has led to a sharp appreciation in investments of Rajiv Jain, the chief investment officer and Chairman of GQG Partners. His investment in the Gautam Adani led conglomerate had swelled nearly 15o per cent over the last one year.
GQG Partners' Rajiv Jain picked up stake in various Adani Group companies after the damning report by the US-based short seller Hindenburg Research released in January 2023 over corporate governance issue and misinterpretation of financial acumen, leading to a sharp correction in the stock prices of listed Adani Group companies.
Jain's investment in four Adani Group companies totalled about Rs 15,400 crore as of March 2023. His stake in Adani Enterprises stood at Rs 5,400 crore, Adani Ports and Special Economic Zone at Rs 5,300 crore, Adani Energy Solutions at Rs 1,900 and Adani Green Energy at Rs 2,850 crore. His investments $1.88 has zoomed more than 150 per cent to $4.8 billion.
Jain had doubled down on his bet on Adani Group stock in June 2023, when he invested Rs 4,100 crore Adani Enterprises, Rs 2,650 crore in Adani Energy Solutions, Rs 4,600 crore in Adani Green Energy. His investment has added a billion of dollar from $1.34 billion has increased to $2.35 billion as of today.
In another round of investment in Adani Group, GQG's Jain injected $1.1 billion or Rs 8,700 crore in Adani Power in August 2023. His investment now is valued at $2.7 billion. Overall, Jain had invested a total of $4.3 billion in the group, which is now worth close to $10 billion.
GQG Partners is a global boutique asset management firm known for its active portfolio management and long-term value creation. Jain's investments and foresight in spotting market trends have solidified his reputation as a significant and successful investor across various sectors. GQG’s other bets in India include names such as JSW Energy, IDFC First Bank, Patanjali Ayurved, GMR Airports, and Vodafone Idea.