Rajiv Jain’s GQG sees 150% growth in Adani investments, reaching $10 billion: Report
Mumbai: Chairman and Chief Investment Officer of GQG Partners Rajiv Jain has witnessed a substantial 150 percent growth in his investments in the Adani Group over the past year, according to a Moneycontrol report.
Following the release of a report by short-seller Hindenburg Research in January 2023 that highlighted corporate governance lapses and debt-related issues in the conglomerate, leading to a significant drop in Adani group stock prices, Jain strategically invested in various Adani enterprises through his firm.
In March 2023, Rajiv Jain's investments amounted to Rs 15,400 crore across four major Adani companies: Rs 5,400 crore in Adani Enterprises Limited (AEL), Rs 5,300 crore in Adani Ports and Special Economic Zone (APSEZ), Rs 1,900 crore in Adani Enterprises Solutions Limited (AESL), and Rs 2,850 crore in Adani Green Energy Limited. This $1.88 billion investment has now grown to an impressive $4.8 billion, said the Moneycontrol report.
In June 2023, Jain increased his investments in Adani stocks, allocating Rs 4,100 crore to AEL, Rs 2,650 crore to AESL, and Rs 4,600 crore to Adani Green Energy. This $1.34 billion investment has risen in value to $2.35 billion as of today, the report noted.
In August 2023, Jain further expanded his portfolio by investing Rs 8,700 crore in Adani Power. This $1.1 billion investment in Adani Power alone has now appreciated to $2.7 billion.
Overall, Jain has invested a total of $4.3 billion in the Adani Group, which is currently valued at nearly $10 billion, according to the Moneycontrol report.
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