Adani Enterprises, Adani Transmission, and Adani Green stocks are attracting attention as there are indications that GQG, led by Rajiv Jain, may acquire shares worth $1 billion.

Rajiv Jain, Chairman and Chief Investment Officer at GQG, has made it to the Forbes Billionaires 2023 list with a net worth of $2 billion, thanks to his ownership of a 69% stake in the Fort Lauderdale-based firm.

In March, GQG Partners purchased shares worth Rs 15,446.35 crore in Adani Enterprises, Adani Ports, Adani Green Energy, and Adani Transmission. Now, there are reports suggesting that GQG Partners, led by Rajiv Jain, is planning to invest an additional $1 billion in three Adani group companies, namely Adani Enterprises, Adani Transmission, and Adani Green Energy.

The value of GQG Partners’ initial investment in Adani stocks soared to Rs 25,515.50 crore, an increase of 65% or Rs 10,069 crore, in Tuesday’s intraday trade.

With the recent investments in Adani stocks, Rajiv Jain’s net worth has reached $2 billion, making him one of the newest entrants on the Forbes Billionaires 2023 list. GQG Partners, co-founded by Jain and CEO Tim Carver in 2016, manages $88 billion in assets under management.

If the proposed fresh investments materialize, it will be a part of the Adani group’s fundraising efforts through stake sales. It’s worth noting that GQG Partners’ previous investment in Adani stocks coincided with the Supreme Court’s order for market regulator SEBI to investigate potential violations of market norms by the conglomerate.

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