ADANI GQG DEAL

Adani Group’s $79-billion rally makes a winner of GQG’s Rajiv Jain

Jain’s investment — it came near the trough of the Adani stock meltdown — has been boosted by a rally in this week after the conglomerate’s green energy unit secured a $1.4 bn loan and a Bloomberg News report said US government found shortseller Hindenburg Research’s allegations irrelevant while advancing a $553 loan for Adani Ports and Special Economic Zone Ltd.’s Sri Lanka project.

India sees robust surge in investments, marking 127% YoY growth in August 2023: PE/VC report

Investments in India reached $5.2 billion in August 2023, marking an 18% increase from the previous month and a 127% increase from the same period in 2022. However, the number of deals declined by 27% compared to last year. The infrastructure sector saw the highest investment, with Adani Power Limited receiving $1.8 billion from GQG Partners Inc.

View: Why Adani’s grip on banks is tighter than his hold on markets

Despite facing challenges such as a share sale failure and allegations of currying favors from opposition politicians, tycoon Gautam Adani still maintains strong relationships with India's government and global banks. Adani's conglomerate, which has expanded its assets significantly, continues to have substantial relationships with 20 global banks. The conglomerate's hard assets, including ports, airports, mines, power stations, and more, make it an attractive prospect for financing.

PE-VC investments increase to USD 5.2 billion in August as large deals shoot up

The investments are more than double of the USD 2.3 billion witnessed in August 2022, even though the number of transactions has declined from 32 in the year-ago period, as per the monthly report by industry lobby grouping Indian Private Equity and Venture Capital Association (IVCA) and consultancy firm EY. The consultancy firm's partner Vivek Soni said funds are skeptical as growth remains elusive for many startups and valuations remain high.

IDFC First Bank shares jump over 5%, hit 52-week high as GQG buys 2.58% stake

NRI investor Rajiv Jain's GQG Partners shot to the limelight earlier this year after it made contra bets in Adani Group stocks at a time when the conglomerate was marred by corporate governance allegations.

Adani investor GQG picks up 2.58% stake in IDFC First Bank for Rs 1,527 crore via bulk deal

Meanwhile, Mauritius-based Cloverdell Investment has sold 4.2% stake in the company. As of the June quarter, Cloverdell held about 7.12% stake in IDFC First Bank.

Biggest Adani bull GQG betting on these 6 Indian stocks too. Take a look

As of June 2023 quarter, the NRI investor's fund held a 1.48% stake in FMCG conglomerate ITC, valued at over Rs 8,200 crore. Max Healthcare Institute is also a recent addition to the GQG portfolio where it holds a 2.36% stake worth Rs 1,243 crore.

GQG Partners raises its stake in Adani Ports to 5.03%

The investment comes after Deloitte quit as auditor for Adani Ports, in the first such move after U.S. short-seller Hindenburg Research's critical report on the Adani group that was published in January.

Adani Power shares rise 3% on 8.1% stake sale to GQG, others

Barring Adani Green Energy which was down 0.44%, all other stocks viz. Adani Enterprises (0.35%), Adani Ports and Special Economic Zone (1.20%), Adani Transmission (1.88 %), Adani Total Gas (0.09%), Adani Wilmar (0.77%), ACC (0.09%), Ambuja Cements and NDTV rose between 0.09-2%.

GQG, other investors pick up 8.1% in Adani Power in $1.1 billion deal

Worldwide Emerging Market Holding, part of the promoter group, offloaded 1.2% stake. Another promoter entity Afro Asia Trade and Investments sold its entire stake in the deal.

GQG Partners further ups bet in JSW Energy, buys 0.6% stake for Rs 351 crore

Promoter group entity JSW Investments Ltd sold 1.3% stake in JSW Energy Ltd through the open market on Wednesday for Rs 718 crore

Adani addresses Hindenburg allegations head-on at AGM, says vested interests wrote report to hurt the company

At Adani Enterprises' AGM on Tuesday, billionaire Gautam Adani extolled growth prospects for India and his business empire, slamming a damaging US-based short seller Hindenburg Research's attack against his embattled conglomerate earlier this year. The tycoon rattled off ambitious expansion targets across his ports, energy and infrastructure businesses, while sending a clear message to shareholders: ignore the criticism

GQG Partners ups stake in two Adani cos to above 5 pc

GQG Partners, a US-based investment firm, has increased its shareholding in two Adani group companies, Adani Enterprises Ltd and Adani Green Energy Ltd, to over 5%. This move demonstrates GQG's confidence in the group despite recent allegations of accounting fraud and stock manipulation made by a US short seller. GQG purchased additional stakes worth $1 billion, boosting its holdings in Adani Enterprises Ltd to 5.4% and in Adani Green Energy Ltd to 6.54%. The Adani family's stake in Adani Enterprises has reduced to 67.65% as a result of their sale of shares to GQG.

GQG acquires 3% in Adani Transmission for Rs 2,666 crore

On Wednesday, GQG invested in Adani Enterprises and Adani Green Energy after promoter entities sold stakes in the two companies via bulk deals to raise ₹8,372 crore. The US-based fund increased its stake from 3.39% to 4.96% in Adani Enterprises, and from 3.5% to 6.32% in Adani Green, sources told ET.

GQG buys stake in another Adani stock from promoter in Rs 1,676 crore deal

Promoter entity Fortitude Trade and Investment has sold its entire stake for about Rs 2,665 crore. GQG Partners has reportedly picked up 1.9% stake or 2.13 crore shares in Adani Transmission

Another $1 billion! GQG makes 3rd round of investment in Adani stocks: Report

GQG and other investors have bought $1 billion of additional stake in Adani Group stocks through block deals, ET Now reported quoting sources close to the matter.

GQG Partners, others invest $1 billion in two Adani companies

The Adani Group has sold shares in Adani Enterprises and Adani Green Energy through an open market transaction, raising ₹8,372 crore ($1 billion). GQG Partners acquired shares worth ₹1,100 crore in Adani Green Energy. The sale resulted in an increase in GQG's holdings in Adani Enterprises and Adani Green. The Adani family is believed to have used the proceeds to repay outstanding loans. The group has lost significant market value since January, following allegations of fraud and price manipulation by Hindenburg Research.

$1 billion deal: Promoters sell stake in Adani Enterprises, Goldman GQG buys Adani Green shares

Following the bulk deals, shares of Adani Enterprises ended 5.34% higher at Rs 2,403.65 on BSE while that of Adani Green ended 0.16% lower at Rs 958.40.

US-based investment firm GQG Partners, others buy $1 billion worth additional stake in Adani group

Adani share block deal aids FPI investment in equities turn positive in Mar

Moreover, going ahead, FPIs may not turn aggressive sellers due to domestic factors like an impressive turnaround in current account deficit (CAD), which has improved substantially due to rising exports.

Adani investor GQG Partners offloads part stake in HDFC AMC in open market transaction

GQG Partners has sold about 24.7 lakh shares or 1.16% equity in the company for nearly Rs 397 crore. The deal was executed at an average weighted price of rs 1,600.85 per equity share, according to bulk deal data.

Adani's Rs 15,446 cr deal restores belief in group's fundraising abilities: Analysts

Analysts maintained promoters can use the money raised through the transaction to infuse capital into any group company requiring the funds through warrants, rights issues, or any other instrument.

PSU bank stocks jump up to 10% on Friday. Here's why

Shares of Punjab & Sind Bank were the top gainers in today’s trade as the stock surged over 10% to Rs 29.12 apiece. While, shares of UCO Bank, Bank of India, and Bank of Maharashtra rose over 5%. SBI, Bank of Baroda, Union Bank, and Central Bank of India advanced over 3%.