Bain Capital to acquire 90% stake in Adani Capital and Adani Housing
The global private investment firm, Bain Capital, has recently entered into a definitive agreement to acquire a significant 90% stake in Adani Capital, a non-banking financial company under the Adani Group. This transaction will involve purchasing the entire Adani family’s private investments in the company. Gaurav Gupta, who is currently the Managing Director and CEO of Adani Capital, will continue to serve in his position even after the acquisition. The deal also includes Bain Capital’s commitment of $120 million in primary capital to support Adani Capital’s ongoing growth. Additionally, they will provide a liquidity line of $50 million in the form of non-convertible debentures.
According to Rishi Mandawat, a Partner at Bain Capital, Adani Capital has demonstrated strong business fundamentals and has the potential to cater to the unmet retail MSME credit demand, which exceeds $300 billion in India. The investment firm sees promising opportunities to partner with Gaurav Gupta and his team to further facilitate Adani Capital’s growth, providing them access to substantial capital and strategic resources.
Adani Group chairman Gautam Adani expressed his satisfaction with the partnership, praising Gaurav Gupta for building a successful financial services business that focuses on serving the underserved in semi-urban and rural India. Gupta shared that Adani Capital aims to support microentrepreneurs and first-time homeowners in the country by offering affordable and convenient lending solutions through technology.
Adani Capital was established in 2017 with the vision to democratize access to affordable lending and support the next generation of MSMEs and entrepreneurs in India. With the backing of Bain Capital’s significant investment, the company aims to grow fourfold from its current position.
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