Boutique investment firm GQG Partners has expressed confidence in the Adani group despite recent bribery allegations against its promoters. GQG believes the charges target individuals and not the firms themselves,

GQG Partners faces a 26% loss in Adani stocks amid bribery allegations, prompting a potential portfolio review while refusing to sell, despite mounting controversy.

GQG Partners , which has a near 20% stake in India's Adani Group, saw its Australia-listed shares plunge 23% on Thursday after Gautam Adani, the conglomerate's chair, was indicted in the U.S. over charges of bribery and fraud.

As of November 21, GQG's total exposure in Adani Group stood at $8.1 billion on total assets of $156.7 billion, or 5.2% of total assets.

The stock closed 19.32% lower on Thursday, the investment firm's steepest one-day fall since its listing on Oct. 2021.

Rajiv Jain’s GQG Partners Inc., one of the biggest investors in units of Adani Group, said it will buy back its own shares after they plunged on concern over the money manager’s exposure to the embattled Indian conglomerate.

GQG Partners expressed continued confidence in Adani Group's fundamentals, emphasising the company’s position in India's infrastructure sector and its adherence to government regulation.

In March 2023, GQG invested in five companies of the Adani group, including flagship Adani Enterprises, Adani Ports & SEZ, Adani Green, Adani Energy Solutions, and Ambuja Cements

Global investment company GQG Partners has maintained that it continues to believe each individual Adani Group company is "well-positioned for the future" and as of now it has "not changed our view on the prospects for these investments.

GQG Capital's memo reveals doubts on Adani stocks, lacking strong support amid declining profits and skepticism.