GQG Partners may invest another $1 billion in Adani Group

24 May 2023 , 10:57 AM

GQG Partners is in talks to invest another $1 billion in Adani Group  after reaping handsome returns on the nearly $2 billion it invested in the conglomerate’s stocks in March.

If successful, the investment will be part of Adani Group’s effort to raise funds through stake sales in three companies: Adani Enterprises, Adani Green Energy, and Adani Transmission.

Earlier in March, GQG invested Rs 15,446 crore in four Adani Group companies through block deals: Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, and Adani Transmission. According to current stock prices, the value of this investment has surpassed Rs 25,000 crore.

GQG Partners has already increased its stake in Adani Group by 10% since its initial investment by acquiring shares from the open market.

Rajiv Jain, the fund’s founder and chief investment officer, indicated in a March call with investors in Australia, where GQG is listed, that the fund is likely to increase its investment in the Gautam Adani-led conglomerate.

Since GQG’s investment, the conglomerate’s stocks have been on a recovery path, with substantial gains in the last three sessions.

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