The Bain Capital Group will acquire 90% of Adani Capital Group and Adani Housing Group

On Sunday, the American private equity firm Bain Capital disclosed that it had signed a binding contract to buy 90% of Adani Capital and Adani Housing. The deal will completely wipe out the Adani family’s private holdings in the business. To help the company grow, Bain Capital has also invested $120 million in primary capital.

Gaurav Gupta’s important services to Adani Capital and the Adani Group were recognized by Gautam Adani, chairman of the Adani Group and a longtime friend of Gaurav Gupta’s.

“He wanted to become an entrepreneur, and I backed him. He has built a good financial services business focusing on the underserved in semi-urban and rural India and has valuably contributed to the Adani Group. I am pleased that a credible investor like Bain is stepping in now, and this will help the business grow manifold from here.”

Gaurav Gupta thanked Gautam Adani personally for the chance and assistance in starting a prosperous financial services company. He said, “Our goal has always been to support Bharat’s microentrepreneurs and first-time homebuyers and to be the most cost-effective and practical lender for our clients by leveraging technology.”

He expects the company to grow four times from its present size with the injection of Rs 1,000 Crores from Bain Capital.

Over 170 branches across eight states comprise Adani Capital’s nearly $500 million assets under management (AUM). The deal is anticipated to completion in Q4 2023, subject to all market and regulatory clearances.

Adani Capital, Adani Housing Finance, and its stockholders had only one financial advisor for this deal, Avendus Capital. In this transaction, Bain Capital received financial advice just from Rothschild.