Stock Market News

GQG raises Adani stake by about 10% – Bloomberg News

2023.05.23 05:26

2/2

© Reuters. FILE PHOTO: The logo of the Adani Group is seen on the wall of its realty office building on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave/File Photo

2/2

(Reuters) – GQG Partners has raised its stake in Gautam Adani’s conglomerate by about 10% and will take part in the group’s future fund raising, Bloomberg News reported on Tuesday.

The value of GQG’s Adani holdings is close to $3.5 billion, the report said, citing an interview with Rajiv Jain, chief investment officer of the U.S. investment firm.

“Within five years, we would like to be one of the largest investors in Adani Group depending on the valuation, after the family,” Jain told Bloomberg.

Jain did not specify which companies GQG had bought into in its latest investment. GQG and Adani Enterprises did not immediately respond to a Reuters request for comment.

GQG Partners in March invested $1.87 billion across Adani Enterprise and other units via secondary market deals, after a report from U.S.-based short seller Hindenburg Research eroded nearly $147 billion from Adani companies’ market value.

Shares of Adani companies gained on Tuesday after a panel from India’s Supreme Court said on Friday it was not “possible to conclude regulatory failure on allegation of price manipulation.”

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 97,918.24 4.20%
ethereum
Ethereum (ETH) $ 3,486.05 2.58%
tether
Tether (USDT) $ 0.999188 0.10%
xrp
XRP (XRP) $ 2.29 2.45%
bnb
BNB (BNB) $ 703.56 1.86%
solana
Solana (SOL) $ 198.92 4.38%
dogecoin
Dogecoin (DOGE) $ 0.33246 3.82%
usd-coin
USDC (USDC) $ 0.999797 0.08%
staked-ether
Lido Staked Ether (STETH) $ 3,484.12 2.89%
cardano
Cardano (ADA) $ 0.921949 2.44%
tron
TRON (TRX) $ 0.257017 2.22%
avalanche-2
Avalanche (AVAX) $ 41.08 6.35%
chainlink
Chainlink (LINK) $ 24.83 3.81%
the-open-network
Toncoin (TON) $ 5.84 3.94%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,139.95 2.50%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 3.55%
sui
Sui (SUI) $ 4.58 1.55%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,578.14 4.14%
hedera-hashgraph
Hedera (HBAR) $ 0.310635 4.63%
stellar
Stellar (XLM) $ 0.387708 5.16%
polkadot
Polkadot (DOT) $ 7.43 2.88%
weth
WETH (WETH) $ 3,486.49 2.51%
hyperliquid
Hyperliquid (HYPE) $ 29.34 0.07%
bitcoin-cash
Bitcoin Cash (BCH) $ 463.39 1.61%
leo-token
LEO Token (LEO) $ 9.54 1.43%
uniswap
Uniswap (UNI) $ 14.16 1.89%
litecoin
Litecoin (LTC) $ 108.08 2.34%
pepe
Pepe (PEPE) $ 0.000019 4.00%
bitget-token
Bitget Token (BGB) $ 5.34 16.36%
near
NEAR Protocol (NEAR) $ 5.54 2.11%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,683.29 2.73%
ethena-usde
Ethena USDe (USDE) $ 0.998993 0.17%
aave
Aave (AAVE) $ 376.16 0.71%
internet-computer
Internet Computer (ICP) $ 11.39 6.62%
aptos
Aptos (APT) $ 9.73 3.17%
usds
USDS (USDS) $ 0.999973 0.35%
crypto-com-chain
Cronos (CRO) $ 0.160678 0.22%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.518105 3.00%
vechain
VeChain (VET) $ 0.052286 10.01%
mantle
Mantle (MNT) $ 1.23 3.41%
ethereum-classic
Ethereum Classic (ETC) $ 27.51 1.90%
render-token
Render (RENDER) $ 7.73 0.50%
bittensor
Bittensor (TAO) $ 502.79 1.82%
monero
Monero (XMR) $ 195.89 4.29%
mantra-dao
MANTRA (OM) $ 3.78 1.06%
whitebit
WhiteBIT Coin (WBT) $ 24.86 2.16%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.37 1.26%
dai
Dai (DAI) $ 0.999835 0.11%
arbitrum
Arbitrum (ARB) $ 0.805268 1.27%
filecoin
Filecoin (FIL) $ 5.36 4.46%