Jupiter sole UK asset manager involved in Adani share sale

1.4% of anchor investors

Jupiter Fund Management is the only UK asset manager to participate in Gautam Adani’s $2.5bn share sale, which has fallen under scrutiny after a short seller report last week.

Jupiter was part of a group of anchor investors that committed to buying nearly half the shares of Adani Enterprises. Other buyers included Indian companies, offshore funds and global investment banks that bought stock on behalf of clients. The share sale was fully subscribed on Tuesday (31 January). It followed a report from Hidenburg Research that accused Adani of improper use of offshore tax havens and concerns about high debt, which Adani denied. Jupiter pledged £3.4m, which is 0.16% of the issue and makes up 1.4% of the anchor investors. The company is held in the Jupite...