Rajeev Jain, Chairman of GQG Partners, has said a lot about Adani Group in an interview given to ‘The Australian Financial Review’. Rajeev Jain said that Adani’s assets are valuable and are available at good prices.
US-based global investment firm, GQG Partners has bought stake in Adani Group’s portfolio companies for Rs 15,446 crore.
GQG Partners has bought 3.39% in Adani Enterprises, 0.04% in Adani Ports, 2.55% in Adani Transmission and 3.51% in Adani Green Energy.
Rajeev Jain’s opinion on short seller Hindenburg Research
Short seller Hindenburg Research had alleged stock manipulation and fraud in Adani group companies, which resulted in losses of more than $100 billion to the group’s listed companies. The Adani Group has been calling Hindenburg’s allegations a lie and a deliberate conspiracy since the beginning.
On this whole matter, Rajiv Jain said that ‘he has his own point of view, we have our own point of view and we disagree with his point of view, but this is what makes the market’.
Rajeev Jain, co-founder and chairman of GQG Partners, said, ‘About 25% of India’s air traffic passes through Adani’s airports, and 25% to 40% of India’s cargo volume passes through their ports. The biggest competitor is actually the Government of India, which is not the fastest horse in the race.
GQG Partners buys stake through block deal
US-based global investment firm GQG Partners has bought stake in Adani Group’s portfolio companies for Rs 15,446 crore. GQG Partners has acquired 3.39% stake in Adani Enterprises, 0.04% in Adani Ports, 2.55% in Adani Transmission and 3.51% in Adani Green Energy.
We believe these companies have tremendous long-term growth potential, and we are pleased to invest in companies that will help drive India’s economy, infrastructure and energy transition.
Rajiv Jain, Chairman, GQG Partners
Big opportunities in the green energy sector
GQG Partners Chairman Rajiv Jain said that Adani Green Energy is by far the fastest and largest private sector company in the green energy sector in India. They are rolling out about three gigawatts annually. So, I think some of his assets are great. He said that countries like India need to make energy transition. Such companies will be an important part of it.
no man’s territory stand on adani group
Jain said that GQG has been closely monitoring Adani Group companies for the past five years, but valuations are in ‘no man’s territory’. The more we kept working, and the more we looked at it, like that, it was really interesting in itself.
GQG chairman Rajeev Jain has also rejected the allegations made by Hindenburg. He said that many governments have come and gone. Fraud does not last for 30 years, it can be for three months or three years, but not for 30 years.
