Adani Group which has been led by Gautam Adani aims to raise up to Rs 1,500 crore through its non-banking financial services – NBFC division Adani Capital. The idea is to raise the money via strategic and private equity investors. This will help to foster growth and maintain a growth capital, says a report.
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The company has a goal of MSME growth and rural development. It aims to raise its primary capital of approximately Rs 1,000 crore to Rs 1,500 crore. A group of the best private equity funds have shown their interest in the given transaction. For this deal, Adani Capital has directed the investment bank Avendus Capital. Based on the incoming investors’ expectations, a secondary sale deal will also take place to explore further shares if necessary, says a report.
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A report further stated that 90% of the shares are held by the Adani group and the remaining by the management team. Adani Capital has worked up well and there are plans to grow the AUM to Rs 10,000-12,000 crores in the coming 2-3 years. Adani Capital has managed its assets worth Rs 3,977 crores by the end of the financial year 2022-23.
The report also mentioned how all the industry sources shared the above information only on the condition of anonymity. However, the report also said that it has confirmed from the Adani Group about its capital raising plans. The additional capital will be raised from strategic and financial investors to allow Adani Capital its independent growth and expansion.
Also, the speculations about the venture Adani Capital wanting to exit Adani Group is completely false. It is not just Adani Capital that is seeking investments but also Adani Enterprises, which is the group flagship, has ideas to raise Rs 12,500 crores. Also, its power transmission venture Adani Transmission aims to raise Rs. 8,500 crores, said the company in recent stock exchange filings.
Adani Capital started its operations in 2017 and is led by CEO Gaurav Gupta. The company is on an expansion spree and that’s why it will have a branch network in the states of Maharashtra, Gujarat, Rajasthan, and Madhya Pradesh. The businesses can be classified into retail and rural financing and wholesale financing.
In contemporary times, the financial services division of the company has gone through many mergers and acquisitions and fund-raising activities. As per information mentioned on the internet, Adani Capital aims to put up an important role in inclusive growth by working towards rural development and promoting MSME, which is the philosophy of the parent company Adani Group philosophy towards building the country.
The company has a team of expert professionals from the industry who are committed to owning and serving customers with their financial requirements. The focus of the company is to provide financial services with the promotion of entrepreneurship. In other news, its parent company Adani Group’s stocks rose on Monday this week, after it received a clean chit from the Supreme Court-appointed panel to the company in an investigation related to the Hindenburg allegations.