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Many of the Indian stocks with GQG Partners' investment surged over 50% this year, beating the 15% rise in the benchmark S&P BSE Sensex with the six GQG funds jumping to $9.9 billion

Rajiv Jain led GQG partners' India portfolio value doubles

Many of the Indian stocks with GQG Partners' investment surged over 50% this year, beating the 15% rise in the benchmark S&amp;P BSE Sensex with the six GQG funds jumping to $9.9 billion

GQG Partners' India Portfolio value more than doubled in a little over a year. This was not just driven by Adani stocks but Rajiv Jain's winning bets on other Indian stocks too.&nbsp;
According to data compiled by Bloomberg, the value of India investments across six of GQG&rsquo;s funds jumped to $9.9 billion compared with $4.4 billion a year earlier.&nbsp;
<h3>GQG Investment</h3>
The investor added stocks across infrastructure, consumer goods and energy sectors in the India equity market which topped the $4 trillion mark last week. GQG's Adani investment alone vaulted to $7 billion. Rajiv Jain bought shares worth $1.9 billion in March after the Hindenburg report and some more later.
Also Read: <a href="https://www.editorji.com/business-news/gqg-partners-acquires-over-5-crore-shares-of-idfc-first-bank-from-ceo-v-vaidyanathan-1694423194116">GQG Partners acquires over 5 crore shares of IDFC First Bank from CEO V Vaidyanathan</a>
Over the past week, the Adani group's market value has increased by about $80 billion since GQG's investment in March. In an interview to Bloomberg in April, Rajiv Jain called the Adani stocks &nbsp;&ldquo;one of the best infrastructure assets&rdquo; in India.
Along with Adani stocks, GQG also bought JSW Energy Ltd., Patanjali Foods Ltd., Macrotech Developers Ltd., Max Healthcare Institute Ltd. and IDFC First Bank Ltd. for the first time between April and September this year. It added ITC Ltd. &mdash; the fund&rsquo;s largest bet &mdash; and State Bank of India Ltd. among other stocks.&nbsp;
Many of the stocks surged over 50% this year, beating the 15% rise in the benchmark S&amp;P BSE Sensex.
Meanwhile, GQG exited its holdings in Reliance Industries Ltd., Infosys Ltd., Cipla Ltd. and Bajaj Finserv Ltd. All of these have underperformed against the Sensex in 2023.
As per Bloomberg a total of nine GQG funds, that includes mutual funds, collective investments and managed funds, had investments worth $14.5 billion in India as of October end, or about 20% of their total assets under management. The six funds whose portfolio details are available have seen a surge by 125% since last year.
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GQG partners picks up 5.07 crore shares worth Rs 479.50 crore from IDFC First Bank CEO V Vaidyanathan. This after, GQG had already picked up 17.1 crore shares or 2.58% stake on September 1st for about Rs 1527 core. 

GQG Partners acquires over 5 crore shares of IDFC First Bank from CEO V Vaidyanathan

GQG partners picks up 5.07 crore shares worth Rs 479.50 crore from IDFC First Bank CEO V Vaidyanathan. This after, GQG had already picked up 17.1 crore shares or 2.58% stake on September 1st for about Rs 1527 core.&nbsp;

U.S based investor GQG Partners has acquired 5.07 crore shares from IDFC First Bank's CEO V Vaidyanathan via a Rs 479.50 crore block trade transaction.
Out of the Rs 478.7 crore sales proceeds, Rs 229 crore will be used to subscribe for new shares of the bank, Rs 240.5 crore towards income tax payment for exercising the stock options, and Rs 9.2 crore towards contribution to pre-committed causes. The causes include National Association of Blind for skilling and rehabilitation of blind people, as well as contribution to Birla Institute of Technology Scholarship Program where Vaidyanathan studied.&nbsp;
"The bank has been duly informed that the proceeds of the sale net of STT and other brokerage charges of Rs 478.7 crore will be utilized for subscribing to fresh shares of the Bank through exercise of options, for payment of related income tax and for contributing to specific pre-committed social causes," IDFC First Bank said
Following this, the shares of IDFC First Bank rallied on Monday morning and rose nearly 2%. The share price opened at Rs 97.24 per share.
This block trade deal comes, a week after the bank joins the first 10 Valuable Indian Banks after 67% Share Surge in 2023.&nbsp; Earlier on September 1, GQG Partners picked up 17.1 crore shares or 2.58% stake in the lender for about Rs 1,527 crore. The transaction was done at Rs 89 apiece
&nbsp;Also Read: <a href="https://www.editorji.com/business-news/idfc-first-bank-joins-top-10-valuable-indian-banks-after-67-share-surge-in-2023-1693908149149">IDFC First Bank Joins Top 10 Valuable Indian Banks after 67% Share Surge in 2023</a>
Vaidyanathan was granted stock options as part of a merger between Capital First and IDFC Bank in October 2018. As these options are now approaching their expiry, he is exercising them by paying exercise price to the bank.
"Furthermore, Capital First was an entrepreneurial venture and the options have appreciated in value over the years due to progress made by Capital First and IDFC FIRST Bank. Hence, he is also required to pay income tax on the appreciation in the market value of the options over the option grant price, calculated as of the date of the exercise. To finance the same, he has executed the sale of the above-mentioned shares," IDFC First Bank said.
With this transaction, Vaidyanathan's shareholding in IDFC First Bank will increase from 0.58% as of June 30, 2023 to 1.04% of the paid-up capital of the bank. The paid-up capital is the amount of money a company has been paid from shareholders in exchange for shares of its stock.
Further, including options that are yet to be converted, his shareholding is 1.23% of the total share capital of the bank. Vaidyanathan has said that no part of this transaction would be used for any of his personal consumption or for making investments other than in the bank and income tax.
"The payments to the Bank and to income tax mentioned above include payments for recently exercised tranches made by availing loans, which are being repaid with the proceeds of the sale of the said shares. The above exercise of shares includes 16,00,000 options granted by the Bank post-merger," the bank said
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After the Hindenburg crisis, Rajiv Jain led GQG Partners has shown immense faith in the Adani group. In just a matter of 5 months the company's stake in Adani group has doubled and now owns Adani shares worth Rs 25,746 crore

GQG's stake in Adani group doubles in 5 months; owns Rs 25,746 crore worth of Adani shares

After the Hindenburg crisis, Rajiv Jain led GQG Partners has shown immense faith in the Adani group. In just a matter of 5 months the company's stake in Adani group has doubled and now owns Adani shares worth Rs 25,746 crore

Rajiv Jain led GQG partners have doubled their stake in Adani group in just five months. The group's combined holdings in fives Adani companies including &nbsp;Adani Enterprises Ltd, Adani Ports, Adani Green Energy Ltd, Adani Transmission Ltd and Ambuja Cements are now worth close to Rs 26,000 crore (Rs 25,746 crore).
As per the Wednesday's trading prices, GQG now owns 3.23% of the total market capitalisation of the five Adani group entities. Earlier in May, Rajiv Jain in an interview to Bloomberg had said that within 5 years GQG plans to become the largest investor in Adani group depending on the valuation after the family.
Also Read: <a href="https://www.editorji.com/business-news/gqg-s-rajiv-jain-raises-stake-in-adani-group-by-10-1684853412455">GQG's Rajiv Jain raises stake in Adani group by 10%</a>
GQG made a whopping investment of Rs 15,446 crore in the Adani group in March, a day after Supreme Court directed SEBI to to conduct an investigation to ascertain if the conglomerate violated market norms, in the wake of Hindenburg Research scathing report.
In May, GQG bought Adani stock worth $500 million in May and added $1 billion worth Adani shares in June. The GQG in July had said that its holding in Adani Transmission has jumped to 6.54%. That 6.54% alone was worth Rs 5,887.32 crore
The Hindenburg report had alleged that the Adani group had involved in "brazen stock manipulation and accounting fraud for decades". The Adani group denied such reports as "a combination of a targeted misinformation and discredited allegations, the majority of them dating from 2004 to 2015."
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