scorecardGQG Partners’ Rajiv Jain doubles down on his Adani bet
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GQG Partners’ Rajiv Jain doubles down on his Adani bet

GQG Partners’ Rajiv Jain doubles down on his Adani bet
Business3 min read
  • Rajiv Jain said in an interview that the Adani group has “the best infrastructure assets available in India”.
  • Within five years, we would like to be one of the largest investors in Adani group, after the family, said Jain.
  • GQG’s initial investment of ₹15,446 crore is now worth ₹24,778 crore, which is a return of 60% in 82 days.
GQG Partners’ Rajiv Jain has doubled down on his bet on the Adani group, increasing his holding in the apples-to-mining to energy conglomerate. Jain said that the Adani group has “the best infrastructure assets available in India.”

According to a Bloomberg report, GQG Partners has increased its stake in the Adani group by about 10%, taking the total value of its investment in the group to $3.5 billion.

However, it is not clear if this is GQG’s investment or if some of it is also a contribution from the rally in company stocks since it picked up a stake in early March.

GQG Partners pumped in ₹15,446 crore in the Gautam Adani-led group with investments in Adani Enterprises, Adani Ports & SEZ, Adani Green and Adani Transmission.

At that time, Adani group stocks were down by as much as 80%, with the group’s combined market capitalisation falling by over 55% or ₹12.2 lakh crore since the Hindenburg report was first released on January 24.

Jain wants to be amongst the ‘largest’ investors in the Adani group

Rajiv Jain, the founder and chief investment officer of GQG Partners, expressed his bullish outlook on the Adani group, crediting it to the company’s vast portfolio of assets.

“Within five years, we would like to be one of the largest investors in Adani group depending on the valuation, after the family. We would certainly want to be partners in any of Adani Group’s new offerings,” Jain, GQG’s founder and chief investment officer, said.

While making his investment in March, Jain said that the market was “mispricing Adani”. His firm’s original investment is now worth ₹24,778 crore, which is a return of 60% in 82 days.

Overall, the Adani group’s market capitalisation since GQG’s investment has increased from ₹8.9 lakh crore to ₹12.42 lakh crore – this is an increase of ₹3.5 lakh crore or 39%.

Essentially, GQG’s four picks in the Adani group have outperformed the group as a whole.

Company

Total investment

Average price

Current market price

Adani Enterprises

₹5,460 crore

₹ 1,400

₹ 2,633.70

Adani Ports & SEZ

₹5,282 crore

₹ 593

₹ 734

Adani Green

₹2,806 crore

₹ 501

₹ 988.80

Adani Transmission

₹1,898 crore

₹ 678

₹ 868.00

Total

₹15,446 crore




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