Jain's GQG Partners had nearly doubled its investments in the Adani shares in less than a year. As per Prime Database data, GQG's portfolio value in Adani Group companies surged to Rs 39,331 crore, assessed from the closing share prices on December 6. This is a total return of 82 percent on its Rs 21,660 crore investment in diverse Adani Group companies made in three tranches during the year starting March 2023.
In June, the company invested around Rs 2,776 crore in Adani Energy Solutions and Adani Green Energy Ltd. Adani Power promoters sold 15.21 crore shares to GQG in a Rs 4,245-crore deal on August 16 and since then the Adani Power shares zoomed 90 percent, driving up the total GQG investment to almost Rs 8,858 crore. As of September 2023 quarter, GQG investment in Ambuja Cements stood at Rs 1,520 crore.
In June, the company invested around Rs 2,776 crore in Adani Energy Solutions and Adani Green Energy Ltd. Adani Power promoters sold 15.21 crore shares to GQG in a Rs 4,245-crore deal on August 16 and since then the Adani Power shares zoomed 90 percent, driving up the total GQG investment to almost Rs 8,858 crore. As of September 2023 quarter, GQG investment in Ambuja Cements stood at Rs 1,520 crore.