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Adani Group to sell its finance company, deal in final stage

Adani Group: The deal to sell Adani Capital, a non-banking finance company (NBFC) owned by Adani Group, is in the final stage. Private equity firm Bain Capital is on the top in the race to buy the group’s financial services business. The Adani Group is intended to sell Adani Capital’s 90 per cent stake for […]

Edited By : Aditya Singh | Updated: Jul 23, 2023 18:05 IST
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adani group

Adani Group: The deal to sell Adani Capital, a non-banking finance company (NBFC) owned by Adani Group, is in the final stage. Private equity firm Bain Capital is on the top in the race to buy the group’s financial services business.

The Adani Group is intended to sell Adani Capital’s 90 per cent stake for Rs 1,440 crore. Though the company has not made any official statement yet, as per sources, the official announcement of this deal is expected to be made soon. 

After acquiring the stake in the Adani company, Bain Capital will invest an additional Rs 1,000 crore in the Adani group company, Business Standard reported. The value of the NBFC has been estimated at Rs 1600 crore. As per the information, Gaurav Gupta, CEO of Adani Capital, will continue to invest in the company. Gupta holds a 10 per cent stake in the company.

The Hindenburg reports over the Gautam Adani group had weakened the confidence of investors in the companies. However, the Adani group took several necessary steps to win back the confidence of investors. In this episode, the group is planning to raise funds in different ways.

Adani Group’s three listed companies – Adani Enterprises, Adani Green Energy and Adani Transmission – plan to raise Rs 33,000 crore by launching Qualified Institutional Placement (QIP) by the end of the calendar year.

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First published on: Jul 23, 2023 05:23 PM IST

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