Just a few days after the GQG Partners infused a $1.9 billion-worth investment in the Adani Group, the firm may step up this game even more. As per updates, Rajiv Jain, founder, GQG Partners has reportedly indicated that the company may increase its investment in the Gautam Adani-led conglomerate.
According to media reports, Rajiv Jain explained that usually, GQG Partners initiates a position and then gradually increases its investments in a company. It increases this based on earnings and performance of the company under consideration.
“Chances are we'll probably buy more because we typically initiate a position and then depending on how things go and how the earnings come through we tend to get it to full size because we're not at full size at this point,” Livemint quoted Jain as saying in Sydney.
Even though the Adani Group stocks have had a hard time at the Indian bourses, Jan explained that GQG Partners goes as per its own research. As per media reports, he adds, “The response actually has been, frankly, more positive than I would have anticipated because they feel that’s how we differentiate ourselves.”
However, Rajiv Jain also reportedly clarified that he has not had any conversation with the Adani ever since the last transaction happened.
According to a TOI report, GQG bought 3.4 per cent of Adani Enterprises for about $662 million, 4.1 per cent of Adani Ports and Special Economic Zone for $640 million, 2.5 per cent of Adani Transmission for $230 million and 3.5 per cent of Adani Green Energy for 340 million.