Bain Capital to acquire 90% stake in Adani Capital, Adani Housing
Bain Capital, the US-based investment company, announced on July 23 that it has signed a pact to acquire 90% of Adani Capital and Adani Housing. Under the deal, Bain will buy out all of the Adani family's private investments in the company.
The transaction is expected to close in the fourth quarter of this year. The aim of the deal is to position Adani Capital as a standalone company to expand its lending operations.
Gaurav Gupta, who will continue to serve as its Managing Director and CEO of Adani Capital, will retain the remaining 10% stake in the company. The investment company has committed $120 million for Adani Capital and an additional liquidity line of $50 million in the form of Non-Convertible Debentures, as per the announcement.
Adani Capital is a non-banking financial arm of the Gautam Adani-led Adani group. The company began its lending operations in 2017.
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