GQG Partners Airtel Stake: NRI investor Rajeev Jain's GQG Partners, which bailed out Adani Group companies by buying their stocks after the Hindenburg Research report, has now bought shares of the country's second largest telecom company Bharti Airtel. . GQG Partners on Thursday bought about 0.8 percent shares of Bharti Airtel from Singapore telecom operator Singtel for Rs 5850 crore. GQG Partners has bought these shares from Singtel in a block deal at a price of Rs 1193.70 per share.
Bharti Airtel is included in the investment of GQG Partners
After this deal, the stake of co-promoter company Singtel in Bharti Airtel has reduced from 29.8 percent to 29 percent. With this deal, Bharti Airtel's name has also been included in the investment of GQG Partners. Apart from Adani Group companies, Rajiv Jain's GQG Partners has also invested in Baba Ramdev's Patanjali Foods, State Bank of India and NTPC.
I regret not buying LIC shares
Recently, Rajiv Jain had said that he regrets not buying shares of Life Insurance Corporation, the country's largest government insurance company. Due to low number of public floating stocks of LIC, they could not issue shares. Government's stake in LIC is 96.5 percent. In May 2022, the government had sold only 3.5 percent stake through IPO. Recently, there were speculations about GQG Partners' Anil Agarwal buying stake in Vedanta, although GQG had completely rejected these rumours.
Come into limelight by buying Adani's shares
Rajeev Jain's GQG Partners came into limelight in March 2023 when GQG bailed out Adani Group companies by buying their stocks at lower levels which had fallen flat after the revelations of the Hindenburg report. Created confidence in the market. In March 2023, GQG invested in the stocks of four Adani Group companies. And his investment gave multibagger returns within a few months.
Adani stocks gave multibagger returns
GQG Partners had invested in the shares of four Adani Group companies Adani Enterprises, Adani Ports and SEZ, Adani Energy Solutions and Adani Green Energy in March 2023. GQG Partners had bought the shares of Adani Enterprises at a price of Rs 1410.86, which is now trading at Rs 3248. That means his investment has doubled and has given a return of 130 percent. The stock of Adani Ports and SEZ was bought at Rs 596.20, which is now trading at Rs 1334. Adani Energy Solutions stock was bought for Rs 668.40 which is now trading at Rs 1069. Adani Green Energy's stock was bought by the company for Rs 504.60, which is now trading at Rs 1919 and this stock has given a return of 280 percent. /strong>
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