Foreign investors are desperate to buy this company of Adani
Gautam Adani Group is preparing to sell its 6 year old company Adani Capital. Foreign investors have started queuing up to buy this company. According to the information, the buyers of this company will bid for it in the next few weeks. After the Hindenburg report, many foreign companies are eyeing to buy Adani Group companies. Currently, private equity firms Bain Capital, Carlyle Group and Cerberus Capital Management are eyeing to buy Adani Capital, Gautam Adani’s six-year-old shadow bank. It is set to bid for the buyout in the coming weeks. The Adani Group wants to sell this shadow bank as it wants to exit non-core businesses that have not generated much profit. Raising funds is also the motive behind selling his 2000 crore company.
This is the valuation of the company
Adani Capital has Rs 4000 crore under asset management. The book value of the company is Rs 800 crore. At the same time, the valuation of the company is 2 thousand crore rupees. Adani Capital is managed by former Lehman Brothers and Macquarie investment banker Gaurav Gupta. Let us tell you, Adani Group has decided to sell Adani Capital after reviewing all its business.
How does Adani Capital work?
In the business year 2023, the loan book of Adani Capital has been Rs 2,690 crore. During this, the company has also earned a profit of Rs 90.68 crore. This company works broadly on 4 verticals. These include farm equipment loans, commercial vehicle loans, business loans and supply chain finance. A unit of this company also works for housing finance.
plan to drop IPO
The company was planning to launch an IPO in early 2024 before the Hindenburg report came out. Bloomberg had reported the raising of Rs 1,500 crore ($188 million) last July, citing Managing Director and Chief Executive Gaurav Gupta. In which about 10% stake was offered at a target valuation of about $2 billion.
Who are foreign investors?
Both Bain and Carlyle have made big bets in India’s financial sector, ranging from investments in banks and NBFCs to insurance and card companies such as Axis Bank, L&T Finance, IIFL Wealth, HDFC, Yes Bank, SBI Cards and SBI Life Insurance Cerberus has $60 billion in assets across various pools. It was in the race to acquire Yes Bank’s Rs 48,000 crore bad loan portfolio. It recently funded $1.7 billion to the promoters of SP Group. Who had pledged a part of his Tata Sons stake to raise funds.
