The investment comes several months after a particularly scathing report by the American investment company Hindenburg Research that accused the group of “stock manipulation and accounting fraud over decades” and Bundy of “pulling the biggest scam in the company’s history”. Bundy denied the accusations, but $135 billion has been wiped off the value of the group’s seven traded companies since the report was published.
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The new investment will be divided between four Adani companies, including the flagship company Adani Enterprises. “This transaction symbolizes the continued confidence of global investors in the management, management and growth of Adani’s companies,” said Group Chief Financial Officer Jogshinder Singh. “We value GQG’s role as a strategic investor in infrastructure, renewable energy, logistics and energy transmission companies. ours,” he added.