Bain Capital, an investment firm based in the United States has recently announced a deal to acquire a 90% majority ownership of Adani Capital and Adani Housing. This agreement involves purchasing all of the investments made by the Adani family in the company with the aim of expanding Adani Capitals’ lending capabilities. The transaction is expected to be finalized during this quarter, which is seen as a step, for the Adani Group after facing challenges due to previous allegations. Gaurav Gupta will retain a 10% stake in the company. Will continue serving as the Managing Director and CEO of Adani Capital. As part of this venture, Bain has committed to providing $120 million, in funds and an additional liquidity line of $50 million.
On July 23 Bain Capital, an investment company based in the United States announced that it has reached an agreement to acquire 90% ownership of Adani Capital and Adani Housing. This deal involves Bain purchasing all of the investments made by the Adani family in the company. The transaction is anticipated to be finalized in the quarter of this year. The objective, behind this agreement is to establish Adani Capital as an entity with expanded lending capabilities.
Bains investment follows investments made by companies like GQG, which increased its stake in Gautam Adanis conglomerate by around 10% back in May.
Gaurav Gupta, who will continue as the Managing Director and CEO of Adani Capital will retain a 10% stake in the company. Gupta expressed his thoughts on this development saying, “With Bain committing Rs 1,000 crore of capital in the company we are equipped to grow fourfold from our position.”
According to the announcement Bain has pledged $120 million for Adani Capital along with a liquidity line of $50 million through Non Debentures (NCDs). It is worth noting that Adani Capital operates as a banking financial arm under Gautam Adani led Adani group and commenced its lending activities back, in 2017.
“I’m really pleased to see an investor like Bain getting involved at this stage. It’s going to make a difference in driving our business ” Gautam Adani, the chairman of the Adani group said in an interview with Media.
Recently the Adani Group has faced some challenges following allegations from Hindenburg, a seller. Their claims caused a drop of over $150 billion in the group’s stock value. However, since then They have managed to recover, around $50 billion of that loss.
