The market value of the company has increased by billions of dollars since Jain made an investment in the Adani Group in March.
Nine months after his company, GQG Partners, acquired shares in the troubled Adani Group, American investor Rajiv Jain, originally from India, has made windfall profits exceeding ₹17000 crore.
The market value of the company has increased by billions of dollars since Jain made an investment in the Adani Group in March.
Following the massive market value wipeout on the stock market due to a report by an American conglomerate, Jain became the first major investor to endorse Adani. At the time of the Hindenburg report, the Adani Group was valued at $150 billion on the market. Almost two thirds of its value had been lost.
Because of Jain’s investment, investor confidence increased, resulting in the conglomerate’s resurgence.
As of right now, Jain has invested ₹20360 crore. The company’s portfolio worth soared to ₹37,459 crore on December 5th, up 84%, thanks to a surge in Adani shares. This results in a profit above ₹17000 crore.
The rally this week after the conglomerate’s green energy unit secured a $1.4 billion loan and a Bloomberg News report stating that the 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, reported the sources, has bolstered Jain’s investment, which came close to the bottom of the Adani stock meltdown.
The Supreme Court’s statement that media reports critical of Adani were not “gospel truth” has cheered Adani’s investors.
A 3.5 billion dollar refinancing loan was also obtained by the corporation.
He is the company’s founder. He is the company’s chairman and chief investment officer, and it is headquartered in Fort Lauderdale, Florida in the United States. The company was created by him in 2016, and in October 2021 it was listed on the Australian Stock Exchange.
India is where he was born. In the 1990s, he relocated to Miami to get an MBA.
Read More: Click Here
