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New Delhi, US-based boutique investment firm GQG Partners and other investors have bought close to USD 1 billion worth of stocks in <keyword id="76451" type="General" weightage="20" keywordseo="adani" source="Orion">Adani</keyword> group's two firms from the founding family in large block trades. The group's flagship Adani Enterprises Ltd saw 18 million shares, or 1.6 per cent, trade in a single block while the renewable energy firm <keyword id="4343578" type="General" weightage="20" keywordseo="adani-green" source="Orion">Adani Green</keyword> Energy saw a total 35.2 million shares, or 2.2 per cent, change hands, sources aware of the matter said. GQG, which had in March bought shares in four Adani group companies worth USD 1.87 billion and in May increased the stake by USD 400-500 million, is said to be one of the investors buying shares in block deal on Wednesday. Adani family sold shares in block deals on Wednesday, they said. The identity of other investors was not immediately known.

GQG, other investors buy $1 bn stake in Adani Enterprises and Adani Green

A unit of <keyword id="6437412" type="General" weightage="20" keywordseo="Qatar-Investment-Authority" source="Orion">Qatar Investment Authority</keyword>, <keyword id="119583" type="General" weightage="20" keywordseo="SBI-Mutual-Fund" source="Orion">SBI Mutual Fund</keyword>, and foreign investment funds <keyword id="6354527" type="General" weightage="20" keywordseo="Nomura" source="Orion">Nomura</keyword> and <keyword id="44473" type="General" weightage="20" keywordseo="Citigroup" source="Orion">Citigroup</keyword> were the biggest buyers of shares in <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword>'s <keyword id="22661797" type="General" weightage="20" keywordseo="power-transmission-unit" source="Orion">power transmission unit</keyword>'s USD <keyword id="22661798" type="General" weightage="20" keywordseo="1-billion-QIP" source="Orion">1 billion QIP</keyword>, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of <keyword id="19964750" type="General" weightage="20" keywordseo="Adani-Energy-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Energy Solutions" meta.hostid="267" meta.entityid="Adani Energy Solutions">Adani Energy Solutions</keyword> Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire <keyword id="22623487" type="General" weightage="20" keywordseo="Stanley-Druckenmiller" source="keywords">Stanley Druckenmiller</keyword>'s family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold. Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds - SBI Infrastructure Fund, SBI Large &amp; Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund - together took home 7.93 per cent of the shares. Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed. INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd - the renewable energy firm of the conglomerate run by billionaire Gautam Adani. In 2020, it had acquired a stake in Adani Electricity Mumbai Ltd, a subsidiary of AESL. The AESL QIP last week was oversubscribed six times and fetched demand of over Rs 50,000 crore against an issue size of USD 1 billion. <keyword id="22636516" type="General" weightage="20" keywordseo="Duquesne-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="Duquesne Family Office" meta.hostid="267" meta.entityid="Duquesne Family Office">Duquesne Family Office</keyword> and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - bought shares but AESL did not disclose the exact number of shares they bought since these were less than 5 per cent of the issue size, sources said. The QIP issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies with high governance and are known for staying invested for decades. The QIP was the first public equity raise by the conglomerate since a damning Hindenburg report last year wiped away billions in shareholder value. The demand generated made the AESL QIP the largest in the energy space. Duquesne was founded by billionaire Stanley Druckenmiller, who along with George Soros in 1992 broke the Bank of England by shorting the British pound, leading to its crash and earnings over a billion dollars. Adani Group has a history of introducing several long-only investors in the market. In the past years, it has brought large investors including GQG Partners and International Holding Company (IHC) besides QIA. Other major global names that participated in the QIP include Blackrock, Jupiter Asset Management, and Eastspring. Domestic mutual funds that have participated included HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, LIC, WhiteOak, 360One among others. Insurance companies including SBI Insurance, SBI Pension and ASK Asset Management have also participated, according to sources. QIP is an instrument used by listed companies to raise funds from large institutions. The fundraise is the first after Adani group's flagship firm scrapped a Rs 20,000 crore issue in February last year, following the Hindenburg report alleging accounting fraud and stock manipulation. Though the group vehemently and repeatedly denied all allegations, listed companies of the conglomerate at one point saw over USD 150 billion of their market value being wiped out. While the group has largely recovered, a successful QIP is being seen as a powerful vote of investor confidence in the tycoon. Separately, Adani Enterprises Ltd, the flagship firm of the group, is looking to revive its first-ever public sale of bonds. It plans to raise as much as Rs 600 crore. The company has hired Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management as lead managers for the issuances. The group had tapped the dollar bond market in March this year - the first time since the Hindenburg report - when its solar energy unit Adani Green Energy Ltd and associated firms got bids of about USD 2.9 billion.

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

Just ahead of its mega <keyword id="20008249" type="General" weightage="20" keywordseo="FPO" source="keywords">FPO</keyword> opening to <keyword id="21332860" type="General" weightage="20" keywordseo="public-investors" source="keywords">public investors</keyword>, <keyword id="19899016" type="General" weightage="20" keywordseo="Vodafone-Idea" source="keywords">Vodafone Idea</keyword> (<keyword id="20062540" type="General" weightage="20" keywordseo="vil" source="keywords">VIL</keyword>) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the <keyword id="20132985" type="General" weightage="20" keywordseo="telco" source="keywords">telco</keyword>. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively. In a notification to the exchanges on Wednesday, VIL said it has allotted 490.9 crore shares to 74 funds at Rs 11 apiece, which is also the upper end of the price band. This translated into a transaction size to Rs 5,400 crore. Of the total allocation to <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword>, 79.52 crore stocks, or 16.2 per cent of the total, were allocated to five domestic mutual fund through a total of 11 schemes. Those who were allotted shares include GQG Partners Emerging Markets Equity Fund, Fidelity, UBS Fund Management, Abu Dhabi Investment Authority, Australian Super, Troo Capital, Morgan Stanley, Citigroup Global Markets Mauritius, and Jupiter Fund Management. Additionally, domestic investors, including Motilal Oswal Mutual Fund, HDFC Mutual Fund, SBI General Insurance and Quant Mutual Fund, were allocated shares in the anchor round. The Rs 18,000-crore FPO of Vodafone Idea will open for public subscription on April 18 and conclude on April 22, marking the biggest FPO in the country. The price band has been set at Rs 10-11 per share. Prior to this, the largest FPO in the Indian market was a Rs 15,000 crore share-sale by YES Bank in 2020. The fundraise would give the ailing telco the firepower to improve its positioning in the Indian telecom market, where it currently trails larger rivals such as Reliance Jio and Bharti Airtel, by a wide margin. The funds will also help VIL shore up finances for the much-delayed <keyword id="20366727" type="General" weightage="20" keywordseo="5G-rollout" source="keywords">5G rollout</keyword> and strengthening 4G services, and payment of vendor dues. On April 6, the VIL Board approved raising Rs 2,075 crore from promoter Aditya Birla Group and increasing its authorised share capital to Rs 1 lakh crore. Earlier this year, Vodafone Idea had outlined plans to raise Rs 45,000 crore through a mix of equity and debt as it looked to match services offered by rivals Reliance Jio and Bharti Airtel and arrest an alarming and prolonged subscriber churn. VIL has also been fighting a desperate battle for survival, saddled with debt of Rs 2.1 lakh crore and quarterly losses. According to Trai data, Vodafone Idea continued to bleed on the subscriber front. VIL lost 15.2 lakh wireless subscribers, plunging its mobile subscriber base to 22.15 crore in January, in sharp contrast to subscriber gains by Jio and Airtel.

Ahead of FPO, Vodafone Idea garners Rs 5,400 cr from anchor investors

<ul class="summary-list"><li>A top investor in Charles Schwab sold its entire stake amid turmoil in the banking sector in March.</li><li>GQG told the Financial Times it had ditched its $1.4 billion stake in the lender.</li></ul>A top investor in <a href="https://markets.businessinsider.com/stocks/schw-stock">Charles Schwab</a> dumped its entire $1.4 billion stake as the brokerage fell victim to turmoil in the banking sector, <a href="https://www.ft.com/content/059e8214-0b38-44d6-8c76-23aaed2bbd4e" target="_blank" rel="noopener">according to the Financial Times</a>. Florida-based GQG Partners was among Schwab's top 15 shareholders until fears of the bank's unrealized losses on its bond portfolio alongside a run on deposits took hold. "We didn't see an existential risk but they were caught up in the sentiment around banks," Mark Barker, head of international at GQG Partners, told the Financial Times. Banking jitters kicked off following the collapse of Silicon Valley Bank and Signature Bank, sparking a wave of mass withdrawals as depositors rushed to money-market funds they perceived a safer investment than uninsured deposits. "With all the inflows to money-market funds Charles Schwab is losing deposits revenue," said Barker.<a href="https://markets.businessinsider.com/news/stocks/charles-schwab-stock-price-crash-investors-circle-banks-bond-losses-2023-3?_gl=1%2A1o6hxu7%2A_ga%2AMTgwMDE1NjcyOC4xNjU1MjA3MDIz%2A_ga_E21CV80ZCZ%2AMTY4MDg2NjgzNC4xMTE2LjEuMTY4MDg3MDAwOC41Mi4wLjA.&amp;utm_medium=referral&amp;utm_source=yahoo.com" target="_blank" rel="noopener">Schwab</a> was among one of the US lenders hit the hardest amid the turmoil, with the bank's share price dropping more than 30% since the start of March. Confidence in the bank also took a beating after Schwab revealed it has nearly $28 billion in unrealised losses across its held-to-maturity and available-for-sale bond portfolio. Like SVB, Charles Schwab pumped billions of dollars into US Treasury securities at a time when interest rates were near-zero levels.Given rates have surged over the past year thanks to the Federal Reserve's anti-inflation fight, those bonds have declined in value, and should the bank need to sell them, it could realize huge losses that may ultimately wipe out shareholders' equity. Despite last month's turbulence, Schwab reported that it logged the <a href="https://markets.businessinsider.com/news/stocks/schwab-stock-banking-crisis-client-assets-money-march-svb-schw-2023-4" target="_blank" rel="noopener">second-highest inflows in March in bank history, </a>bringing in more than $54 billion of core net new client assets.

A top investor in Charles Schwab sold its entire $1.4 billion stake as the brokerage fell victim to the banking turmoil

<ul class="summary-list"><li>A top investor in Charles Schwab sold its entire stake amid turmoil in the banking sector in March.</li><li>GQG told the Financial Times it had ditched its $1.4 billion stake in the lender.</li></ul>A top investor in Charles Schwab dumped its entire $1.4 billion stake as the brokerage fell victim to turmoil in the banking sector, <a href="https://www.ft.com/content/059e8214-0b38-44d6-8c76-23aaed2bbd4e" target="_blank" rel="noopener">according to the Financial Times</a>. Florida-based GQG Partners was among Schwab's top 15 shareholders until fears of the bank's unrealized losses on its bond portfolio alongside a run on deposits took hold. "We didn't see an existential risk but they were caught up in the sentiment around banks," Mark Barker, head of international at GQG Partners, told the Financial Times. Banking jitters kicked off following the collapse of Silicon Valley Bank and Signature Bank, sparking a wave of mass withdrawals as depositors rushed to money-market funds they perceived a safer investment than uninsured deposits. "With all the inflows to money-market funds Charles Schwab is losing deposits revenue," said Barker.<a href="https://markets.businessinsider.com/news/stocks/charles-schwab-stock-price-crash-investors-circle-banks-bond-losses-2023-3?_gl=1%2A1o6hxu7%2A_ga%2AMTgwMDE1NjcyOC4xNjU1MjA3MDIz%2A_ga_E21CV80ZCZ%2AMTY4MDg2NjgzNC4xMTE2LjEuMTY4MDg3MDAwOC41Mi4wLjA.&amp;utm_medium=referral&amp;utm_source=yahoo.com" target="_blank" rel="noopener">Schwab</a> was among one of the US lenders hit the hardest amid the turmoil, with the bank's share price dropping more than 30% since the start of March. Confidence in the bank also took a beating after Schwab revealed it has nearly $28 billion in unrealised losses across its held-to-maturity and available-for-sale bond portfolio. Like SVB, Charles Schwab pumped billions of dollars into US Treasury securities at a time when interest rates were near-zero levels.Given rates have surged over the past year thanks to the Federal Reserve's anti-inflation fight, those bonds have declined in value, and should the bank need to sell them, it could realize huge losses that may ultimately wipe out shareholders' equity. Despite last month's turbulence, Schwab reported that it logged the <a href="https://markets.businessinsider.com/news/stocks/schwab-stock-banking-crisis-client-assets-money-march-svb-schw-2023-4" target="_blank" rel="noopener">second-highest inflows in March in bank history, </a>bringing in more than $54 billion of core net new client assets.

<ul class="summary-list"><li>Rajiv Jain made a big bet on Gautam Adani's business empire last month.</li><li>He told Bloomberg Monday that he believes his $1.9 billion investment could deliver 100% returns over the next five years.</li></ul>Investing in Gautam Adani's companies could generate massive returns over the next five years, according to an emerging markets specialist who made a big bet on the Indian tycoon's troubled business empire last month.Rajiv Jain poured $1.9 billion into four of the Adani Group's ten listed companies last month – and said Monday that he thinks the value of his investment could double over the next half-decade."These could be multibaggers," the GQG Partners CIO told <a href="https://www.bnnbloomberg.ca/gqg-sees-2-billion-adani-bet-delivering-returns-over-100-1.1904556" target="_blank" rel="noopener">Bloomberg</a>, referring to stocks that deliver returns of 100% or more.Adani has lost as much as $153 billion worth of market capitalization since short-seller Hindenburg Research <a href="https://markets.businessinsider.com/news/stocks/adani-group-hindenburg-research-short-report-4th-richest-person-world-2023-1?utm_medium=ingest&amp;utm_source=markets">released a scathing report</a> in January that alleged the conglomerate had engaged in stock manipulation and accounting fraud to perpetrate what it called "<a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener">the largest con in corporate history</a>", according to data from Bloomberg.The Indian conglomerate has repeatedly dismissed Hindenburg's report, saying it includes "<a href="https://www.adanienterprises.com/newsroom/media-releases/Media-Statement-on-Hindenburg-Research-Report">misinformation and stale, baseless and discredited allegations</a>".Jain agreed with those denials and is betting that Adani's coal-mining assets, data centers, and majority stake in Mumbai's international airport will deliver returns for GQG."If you peel the onion a little bit further, we didn't find any signs of fraud or anything like that," Jain told <a href="https://www.bloomberg.com/news/videos/2023-04-04/why-gqg-s-rajiv-jain-is-betting-on-adani-s-empire-video">Bloomberg TV</a> in an interview that aired Monday."If you look at the longer-term opportunities that these companies have, it's tremendous," he added. "These are very well run assets, unique assets, monopolistic assets.""And obviously, there was a little bit of crisis and we believe that that creates a massive, longer-term headroom for these businesses and opportunity for us."Read more: <a href="https://markets.businessinsider.com/news/stocks/gautam-adani-hindenburg-research-explained-stock-market-outlook-investing-analysis-2023-1">Everything you need to know about Gautam Adani and Hindenburg after the short seller's fraud allegations burnt a $72 billion hole in the richest Asian's empire</a>

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GQG, other investors buy $1 bn stake in Adani Enterprises and Adani Green

PTI

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

PTI

Ahead of FPO, Vodafone Idea garners Rs 5,400 cr from anchor investors

PTI

A top investor in Charles Schwab sold its entire $1.4 billion stake as the brokerage fell victim to the banking turmoil

Zahra Tayeb

A top investor in Charles Schwab sold its entire $1.4 billion stake as the brokerage fell victim to the banking turmoil

Zahra Tayeb

Adani could deliver 'multibagger' returns, an investor who bet $2 billion on the troubled business empire says

Zinya Salfiti

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