Rajiv Jain's GQG Partners raises bets on Adani Group firms via Rs 5,100-cr block deal

GQG Partners, backed by Rajiv Jain, increased its stake further in five Adani Group companies through the block deal route. The investment management firm bought shares in Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Power, Adani Green Energy and Adani Energy Solutions, according to exchange data.

The Jain-led firm purchased 53.42 lakh shares at Rs 2,462 apiece in Adani Enterprises in three block deals, spending Rs 1,315.2 crore on the transaction. This was the most expensive purchase for GQG. The seller was Reliance Institutional Retirement Trust Series Eleven.

In Adani Ports, GQG bought 73.17 lakh shares in two tranches at price of Rs 1,507.6 per share. The total size of the deal was at 1,103.14 crore and the shares were sold by Reliance Trust.

The company acquired 77.39 lakh shares of Adani Green Energy at Rs 1,088.6 apiece for a total of Rs 842.53 crore. Adani Power’s 83.61 lakh shares were bought by GQG at Rs 153.28 apiece for a deal size of Rs 1,281.57 crore. It bought 53.94 lakh shares of Adani Energy Solutions in two transactions for a price of Rs 1,021.55 per share, spending 551.08 crore on the deal.

According to the September quarter shareholding details:

• GQG held a 1.75 percent stake in Adani Enterprises, representing 2.01 crore shares.


• GQG held a 2.42 percent stake in Adani Ports (APSEZ), representing over 5.21 crore shares.


• GQG held a 2.46 percent stake in Adani Green Energy, representing over 4.04 crore shares.


• GQG held a 1.86 percent stake in Adani Energy Solutions, representing over 2.23 crore shares.


• GQG held a 1.54 percent stake in Adani Power, representing over 29.23 crore shares.

GQG Partners is a global boutique asset management firm known for its active portfolio management and long-term value delivery to clients. The Rajiv Jain-led GQG Partners invested in Adani Group stocks following the Hindenburg allegations in January 2023. Jain's investments and foresight in spotting market trends have solidified his reputation as a significant and successful investor across various sectors.