The Adani Group has announced its plan to sell a 90% stake in its financial services business to private equity firm Bain Capital for Rs 1,440 crore. The company, which has been valued at Rs 1,600 crore, will see CEO Gaurav Gupta retaining a 10% stake in the business. This strategic move by Adani is part of its effort to streamline its portfolio and concentrate on its core operations. With this sale, Adani will be able to reduce risk and focus on its key areas of expertise. The deal is expected to provide a boost to Adani’s financial position and pave the way for further growth opportunities in the future.
Today: December 6, 2023