Bain Capital – The News Desk

Bain to buy 90% stake in Adani Capital and Adani Housing for Rs 1,440 cr

23Jul

By adminNo Comments

Business

Bain to buy 90% stake in Adani Capital and Adani Housing for Rs 1,440 cr

The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs. 1,440 crore. The total valuation of the Adani financial services business stands at Rs. 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake. Bain will also invest an additional Rs. 983 crore as primary capital in the company to facilitate its growth. Besides, Bain Capital will also make available a liquidity line of Rs. 409 crore as non-convertible debentures (NCDs) to the company. Gautam Adani, chairman, Adani Group, said Gupta and his team have not only built a financial servic...

Bain to buy 90% stake in Adani Capital and Adani Housing

US-based investment firm Bain Capital said on Sunday that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company.Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to serve as its Managing Director and CEO, Bain said.The investment firm has committed $120 million for Adani Capital and an additional liquidity line of $50 million in the form of Non-Convertible Debentures.Adani Capital is a non-banking financial arm of the Adani group which started its lending operations in 2017.The transaction, which is expected to close in the fourth quarter of this year, aims to position Adani Capital as a standalone company to expand lending, Bain said."I am very happy tha...

Adani to sell 90% stake in fin services to Bain Capital for Rs 1,440 cr

The Adani group plans to sell 90 per cent stake in its financial services business to private equity firm Bain Capital for Rs 1,440 crore. The company has been valued at Rs 1,600 crore with the management led by CEO Gaurav Gupta holding 10 per cent stake in the company. Gupta will remain invested in the company. Bain Capital will invest an additional Rs 1,000 crore in the company after acquiring Adani's stake, said a banking source. An official announcement is expected any time, the source said. Adani Capital officials did not comment on the sale. The Adani group plans to focus on its core business of infrastructure and prepay debt -- both at the promoters level and at the listed entities level. The group is currently busy commissioning the Navi Mumbai ...