The man who made a contrarian bet on Adani could be riding in as a saviour for another company in trouble. Following reports that US-based GQG Partners, founded by Rajiv Jain, is in talks to buy a stake in Vedanta, a big block deal was reported on Thursday in which more than 2% equity changed hands worth over Rs 2,600 crore.
GQG Partners, an investment boutique which manages global and emerging market equities for institutions, advisors, and individuals worldwide, had hit the headlines last year when it invested over Rs 15,000 crore in Adani stocks in early March amid devastation triggered by a report by American short-seller Hindenburg Research accusing the group of various wrong-doings. Jain’s bet paid off when by the end of last year Adani stocks had rebounded in expectation of the group emerging unscathed out of a probe by Sebi.
