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Gautam Adani Group Non Banking Finance Company is considering winding up its business. It has been claimed in the report that the company will close its banking related business. According to an Economic Times report, three private equity group companies Bain Capital, Carlyle Group and Cerberus Capital Management are ready to make binding bids to buy Gautam Adani’s six-year-old Adani Capital.
It has been told in the report that to save his capital, Gautam Adani wants to get out of the business of non-banking finance company and wants to concentrate on the main business. According to a report in The Economic Times, the promoters of Adani Capital hold about 90 per cent of the company, while another 10 per cent is held by investment banker Gaurav Gupta, who joined the group in 2016.
Adani Group expects 2 thousand crore valuation
Adani Capital has assets under management (AUM) of Rs 4,000 crore and book value of Rs 800 crore. The group is expected to be valued at 2-2.5 times book value ie Rs 2,000 crore. It has also been said in the report that the new investor will also invest one thousand to 1,500 crore rupees in the company as growth capital. Most of the bidders are interested in outright ownership of the business. However, the promoters will decide whether to retain a small stake or not.
Hindenburg’s research plan had failed
Adani Capital was planning to come out with an IPO in 2024 to raise Rs 1,500 crore and offer a 2 per cent stake, but in the meantime had to withdraw it after the release of the Hindenburg Research report. Currently the company is working with Avendus for the selling process.
what does the company do
Adani Capital offers retail and wholesale loans in six sectors, of which agriculture is the largest. This company gives loans to small and medium businesses. It has presence in nine states including Gujarat, Maharashtra, Rajasthan, Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh, Uttar Pradesh and Tamil Nadu.
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