Adani Group is planning to sell its ten-year-old shadow bank, Adani Capital, and three private equity firms are preparing to make their best bids for the NBFC. Three firms namely, Bain Capital, Carlyle Group, Cerberus Capital Management will make their binding bids in the coming weeks for Adani Capital, according to an Economic Times report.
Also read: Adani Enterprises buys 30% stake in Trainman, online train ticket booking platform
The billionaire businessman is planning to exit from the non-core business sector to focus fully on the company’s niche areas. The business tycoon is planning to conserve cash for his principal operations.
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Till now, there has been no official confirmation about the Adani Capital buyout by the Adani Group. Adani group’s NBFC arm, Adani Capital is looking to raise additional growth capital from international strategic and financial investors, the spokesperson of Adani group told The Hindu Businessline without giving any clear statement about Adani Capital.
Adani Capital is led by Gaurav Gupta. Gaurav has the experience of handling operations in Helman Brothers and Macquarie. He has been using his expertise in the field for the progress of Adani Capital since 2016. Currently, Adani Capital offers different loan services including loan for farm equipment, commercial vehicles, business loan, and supply chain finance.
Adani Group raises $ 9 billion in 4 years
In a short span of four years, Adani Group has managed to raise a whopping $ 9 billion. The conglomerate had started the capital transformation journey for its core infrastructure portfolio in 2019.
“The program paved the way for long-only global investors to participate in the world’s largest and fastest-growing infrastructure development where Adani portfolio offers a one-stop play through its portfolio companies spread across the infrastructure spectrum from energy and utility to transport and logistics,” said Adani Group in its press release on Sunday.
“It has attracted investments across various listed entities- Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL), Adani Total Gas Limited (ATGL) and Adani Enterprises Limited (AEL),” it said.
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Updated: 10 Jul 2023, 10:09 AM IST
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