{"id":40197,"date":"2023-07-25T09:16:18","date_gmt":"2023-07-25T13:16:18","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/bain-to-buy-90-stake-in-adani-capital-and-adani-housing\/"},"modified":"2023-07-25T09:16:19","modified_gmt":"2023-07-25T13:16:19","slug":"bain-to-buy-90-stake-in-adani-capital-and-adani-housing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=40197","title":{"rendered":"Bain to buy 90% stake in Adani Capital and Adani Housing"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS\/Kim Kyung-Hoon\/File Photo<\/span>
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By Akanksha Khushi<\/p>\n

(Reuters) -U.S.-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. <\/p>\n

Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to serve as its Managing Director and CEO, Bain said. <\/p>\n

Adani Capital is the non-banking financial arm of the Adani group which started its lending operations in 2017. Bain has committed $120 million for the arm and an additional liquidity line of $50 million in the form of Non-Convertible Debentures.<\/p>\n

Bain’s interest in the billionaire Gautam Adani-owned firm comes at a time when it has been under pressure after U.S. short seller Hindenburg Research accused it of improper business practices, leading to a more than $150 billion plunge in value of the group’s main stocks. <\/p>\n

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. <\/p>\n

“I am very happy that a credible investor like Bain is stepping in now and this will help the business grow manyfold from here,” said Gautam Adani, chairman of the Adani group. <\/p>\n

Bain’s investment follows other international investments by companies like GQG which raised its stake in Gautam Adani’s conglomerate by about 10% in May. <\/p>\n

“With Bain committing 1,000 Crore rupees of capital in the company, we are now equipped to grow 4x from here,” Gupta said in a statement. <\/p>\n

Adani group stocks have recovered by around $50 billion since the Hindenburg-triggered stock rout early this year after Gautam Adani assured investors and repaid debt.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS\/Kim Kyung-Hoon\/File Photo By Akanksha Khushi (Reuters) -U.S.-based investment firm Bain Capital said on Sunday that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, […]<\/p>\n","protected":false},"author":1,"featured_media":4722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-40197","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBain to buy 90% stake in Adani Capital and Adani Housing | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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