Bain Capital Acquires 90% Interest In Adani Capital & Adani Housing

Bain Capital disclosed a definitive deal to buy 90% of Adani Capital and Adani Housing for an undisclosed amount.

The transaction will lead to the full acquisition of the Adani family’s private investments in the company.

Gaurav Gupta, Managing Director, and CEO, will fully roll his share in the company and continue to serve in the same position.

Bain Capital has a primary capital commitment of $120 million, along with immediately available Non-Convertible Debentures of $50 million to drive growth in the company. 

The deal is expected to close in Q4 2023, upon gaining necessary regulatory and market approvals.

The transaction is expected to position the non-bank financial firm as a standalone company and support expanded lending to underserved MSME, agriculture, and affordable housing segments.

“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. We see compelling opportunities to partner with Gaurav and team to support and facilitate Adani Capital’s next phase of growth by providing access to significant capital, strategic and operating resources, and deep experience partnering with financial services businesses in India and across the globe," said Rishi Mandawat, a Partner at Bain Capital. 

Also Read: Bain Capital To Raise $4B For Special Situations Fund: Report