Bain Capital to acquire 90% stake in Adani Capital, providing $120 million in primary capital and a liquidity line of $50 million. Gaurav Gupta will continue to serve as Managing Director and CEO.
Bain Capital, a global private equity firm, has entered into a definitive agreement to acquire 90% of Adani Capital and Adani Housing. The transaction will buy out 100% of the Adani family’s private investments in the company. Gaurav Gupta, the current Managing Director and CEO, will retain a 10% stake in the company and continue to serve as its head.
Bain Capital is committing $120 million in primary capital to Adani Capital. This will help the company to grow its lending business and expand into new segments, such as agriculture and housing. Bain Capital is also providing a liquidity line of $50 million in the form of Non-Convertible Debentures. This will provide Adani Capital with additional financial resources to support its growth.
Bain Capital to buy 90% stake in Adani Capital, Gaurav Gupta to remain MD
Gautam Adani, Chairman of the Adani Group, said that he is “very happy” that Bain Capital is stepping in to acquire a majority stake in Adani Capital. He said that Bain Capital is a “credible investor” that will help the business to grow manyfold from here.
Rishi Mandawat, a Partner at Bain Capital, said that Adani Capital is a “scale lending business” that supports entrepreneurialism. He said that the company has strong business fundamentals and an experienced team. He added that Bain Capital is “excited” to partner with Gaurav Gupta and the team to support Adani Capital’s next phase of growth.
The transaction is expected to close in the fourth quarter of 2023.
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