GQG fetches 28% of FPI inflows in 2023

Rajiv Jain-led GQG Partners has accounted for more than a fourth of the entire net foreign portfolio investment (FPI) inflows into India in 2023. Of that investment, more than 80% went into the Adani Group, and the rest into five other listed companies. Returns on the investments, too, were impressive.

- Ram Sahgal & Mayur Bhalerao

GQG’s total net investment in India this year, as of 28 December, stood at ₹44,935 crore, of which ₹37,441 crore was pumped into five Adani Group companies, including flagship Adani Enterprises, according to bulk and block deals reported on National Stock Exchange and BSE. The other group companies were Adani Ports and Special Economic Zone (APSEZ), Adani Power, Adani Green and Adani Energy Solutions.

GQG also invested ₹7,494 crore in five non-Adani companies—IDFC First Bank, Patanjali Foods, GMR Airports Infrastructure, JSW Energy and Max Healthcare Institute.

India’s total net FPI investments stood at ₹1.62 trillion in the calendar year through 27 December. GQG Partners alone accounted for nearly 28% of those inflows.