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
The ongoing equity rally in India has been led far more by largecaps, said Rajiv Jain, where valuations appear supportive.
Jain said the extent of impact of the US tariffs are still unclear and uncertain, as the negotiations are still unfolding and a deal between Beijing and Washington is still not in place.
From GQG Partner's sharp stock correction to LVMH's changing strategy to focus on India, here's a look at some of the major developments from across the world.
UBS downgraded GQG from a buy to a neutral rating and reduced the stock's price target from A$3.30 to A$2.30
'Except for Adani Green Energy, we understand that the Adani companies do not need to raise more capital at this point,' says the investment firm
On November 21, shares of GQG Partners, which holds a combined stake of nearly 20% in four Adani firms, fell more than 19% after Gautam Adani was charged with bribery and fraud in New York
GQG stock fell 10% to AUD 2.38 on the Australian Securities Exchange after the Attorney's Office for the Eastern District of New York and the US SEC alleged that Gautam Adani participated in a $250 million bribery scheme to secure solar energy contracts in India.
GQG Partners Emerging Markets Equity Fund has kept his holdings in Chinese stocks at about 12% of the fund — roughly half of the weighting of its benchmark.
GQG Partners settled without admitting or denying wrongdoing while acknowledging the US SEC's jurisdiction in the case.
GQG Partners also picked up 1.09 percent stake via a block deal
Among domestic investors, the QIP is likely to see participation from Bandhan Mutual Fund, and 360 One; some FIIs from US have also sown interest in the deal.
Jain expressed cautious optimism about China as an investment opportunity, favoring state-owned enterprises over private sector investments due to increasing concerns
On May 26, Moneycontrol first reported that the boards of the two companies were planning to approve fundraising plans, collectively worth around $3.5-4 billion.
GQG Partners has invested a total of $4.3 billion in various Adani Group companies.
GQG and SBI Mutual Fund are considering investments under the institutional quota of what will be India's biggest secondary offering
The investment firm manages more than $127 billion in assets globally.
While GQG has made several investments in India in the past, the decision to invest in the Adani Group marked a turning point. Despite lingering concerns regarding its exit strategy, the fund says it's under no pressure from its investors.
Jain remains optimistic about State Bank of India and NTPC. GQG Partners holds stakes in both companies
At the current level of 23x earnings, ITC's valuation is 'incredibly attractive', says the GQG Partner CIO
The value of GQG Partners’ investments in Adani stood at more than $7 billion at the end of November
The amount has been raised through a consortium of five lenders led by IIFCL, GMR Airports said, adding that the funds would be used to part-finance the phase-I of the Visakhapatnam-based airport.
On September 4, GQG Partners had bought a 2.6 percent stake in the Mumbai-based private lender in a deal worth Rs 1,527 crore.
The Gautam Adani-led conglomerate closed the June 2023 quarter with the 'highest-ever cash balance at portfolio level of Rs 42,115 crore'
The shares rose 1.29 percent on August 21.