In March, GQG acquired stakes in four companies owned by Adani from a family trust, with an approximate value of $2 billion.
Rajiv Jain, an experienced financial expert and investor from India, who is associated with GQG Partners LLC, has decided to increase his stake in billionaire Gautam Adani’s conglomerate. Jain considers these investments as a reinforcement of his belief in the exceptional infrastructure assets that Adani’s conglomerate offers, which he considers to be the best available in India.
“In the next five years, our goal is to become one of the largest investors in the Adani Group, potentially second only to the family itself, based on the valuation,” stated Rajiv Jain, Chief Investment Officer of GQG, during an interview.
“We definitely aspire to be partners in any new offerings presented by the Adani Group,” expressed Rajiv Jain, emphasizing their interest in collaborating with the conglomerate on future ventures.
As per Mr. Jain, the stakes held by GQG in Adani are estimated to be around $3.5 billion. However, he did not specify the specific businesses in which the investments were made or the proportion of the investment value attributed to direct acquisitions versus the increase in Adani stock prices.
According to Mr. Jain, GQG’s holdings in Adani are valued at approximately $3.5 billion. However, he did not provide details regarding the specific businesses in which the investments were made or the percentage of the investment value derived from direct acquisitions versus the appreciation of Adani’s stock prices.
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Adani-Hindenburg controversy: What happened?
In March, GQG acquired stakes in four of Adani’s companies from a family trust for a sum exceeding $2 billion. This initial investment served to bolster the tycoon’s businesses, particularly during a challenging period when they faced allegations of “brazen” stock-price manipulation and corporate fraud by Hindenburg Research, a New York-based short-selling firm. These accusations resulted in Adani Group experiencing a significant decline in market value, losing over $150 billion at one stage.
Mr. Jain is currently benefiting from a favorable market trend, as indicated by the rise in Adani Group’s stock prices. This surge followed the submission of an interim expert panel report to India’s Supreme Court last week, which concluded that there was insufficient evidence to support allegations of stock-price manipulation by the conglomerate.
About: Rajiv Jain
Rajiv Jain, originally from India, founded GQG Partners in 2016 and currently holds the positions of Chairman and CEO within the company. His journey in the financial world began during his senior year in high school when he made his first stock purchase.
In June 2016, Rajiv Jain departed from Vontobel Asset Management to venture into his own entrepreneurial endeavor. Besides holding the position of co-CEO, he assumed roles as the Chief Investment Officer (CIO) and head of equities in his newly established business.
Rajiv Jain espouses a motto centered around safeguarding assets in challenging market conditions while channeling investments into emerging markets. His objective is to invest in businesses that have the potential to yield substantial profits within a five-year timeframe. With the world shifting towards a Net Zero economy and transitioning away from fossil fuel-based systems, Jain now aims to concentrate on the energy industry. He has shown support for the Adani Group due to their investments in green hydrogen and renewable energy initiatives.