NEW DELHI: Private investment firm Bain Capital will acquire 90% of Adani Capital and Adani Housing. The transaction will buy out 100% of the Adani family’s private investments in the company, with Gaurav Gupta fully rolling his stake in the company and continuing to serve as Managing Director and CEO.
The transaction is expected to close in Q4 2023. Bain Capital has also committed $120 million in primary capital to facilitate the company’s ongoing growth. The firm is also immediately making available to the company a liquidity line $50 million in the form of Non-Convertible Debentures.
“Gaurav and the team have built a scale lending business that supports entrepreneurialism and is trying to solve the $300 billion unmet retail MSME credit demand in the country. The company has strong business fundamentals, an experienced team, with ability to serve and expand to core segments like agriculture, housing and to underbanked rural areas,” said Rishi Mandawat, a Partner at Bain Capital.
“Our aim has always been to support micro-entrepreneurs and first-time homeowners in Bharat and to be the most economical and convenient lender to our customers by leveraging technology. With Bain Capital committing R1,000 crore of capital in the company, we are now equipped to grow 4x from here,” said Gaurav Gupta.
Avendus Capital was the exclusive financial advisor to Adani Capital, Adani Housing Finance and their shareholders on this transaction.