Rajiv Jain’s GQG sees its investment in Adani stocks grow 150% to $10 billion

Rajiv Jain’s GQG sees its investment in Adani stocks grow 150% to $10 billion

GQG Partners Chairman and Chief Investment Officer Rajiv Jain's investments in the Adani Group have seen significant appreciation, swelling 150 percent over the past year. Through his firm , Jain has strategically invested in various Adani enterprises after short seller Hindenburg Research’s report in January 2023 called out corporate governance lapses and debt-related issues at the conglomerate, which led to a massive correction in Adani group stock prices.

In March 2023, Jain's investments totalled Rs 15,400 crore across four key Adani companies: Adani Enterprises Limited (AEL) — Rs 5,400 crore; Adani Ports and Special Economic Zone (APSEZ) — Rs 5,300 crore; Adani Enterprises Solutions Limited (AESL) — Rs 1,900 crore; and Adani Green Energy Limited — Rs 2,850 crore. This investment of $1.88 billion has now appreciated to a staggering $4.8 billion.

In June 2023, Jain doubled down on his bet on Adani stocks, with Rs 4,100 crore in AEL, Rs 2,650 crore in AESL, and Rs 4,600 crore in Adani Green Energy. This $1.34 billion investment has increased in value to $2.35 billion as of today.

In August 2023, Jain further increased his investments by injecting Rs 8,700 crore into Adani Power. This $1.1 billion investment in Adani Power alone is now valued at $2.7 billion.

Overall, Jain has 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 delivery to clients. 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 prominent bets in India include names such as JSW Energy, IDFC First Bank, Patanjali Ayurved, GMR Airports, and Vodafone Idea.