US-based investment firm GQG Partners invested Rs 15,446 crore ($1.87 billion) in four Adani Group companies on Thursday, the billionaire Gautam Adani-led conglomerate said on Thursday.
GQG, led by Chairman and CIO Rajiv Jain, bought shares of Adani Ports and Special Economic Zone Ltd, Adani Green Energy Ltd, Adani Transmission Ltd and Adani Enterprises Ltd via a series of secondary block trade transactions on the BSE and National Stock Exchange.
“We believe that the long-term growth prospects for these companies are substantial, and we are pleased to be investing in companies that will help advance India’s economy and energy infrastructure, including their energy transition over the long-run,” Jain said.
The investment comes at a time when Adani Group has been under a cloud after US-based short seller Hindenburg Research accused the conglomerate of stock manipulation and accounting fraud. Shares of Adani Group companies have plunged since Hindenburg made the allegations on Jan. 24.
GQG Partners invested Rs 5,460 crore in Adani Enterprises, Rs 5,282 crore in Adani Ports, Rs 1,898 crore in Adani Transmission and Rs 2,806 crore Adani Green.
Florida-headquartered GQG had offices in New York, London, Seattle and Sydney. It is listed on the Australian Securities Exchange and managed $92 billion in client assets as of Jan. 31.
Jefferies India Pvt. Ltd acted as the sole broker for the transaction.