Bain Capital to acquire 90% stake in Adani Capital and Adani Housing

Rishi Mandawat, a Partner at Bain Capital, expressed his confidence in the potential of Adani Capital, stating, "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."

He highlighted the company's strong business fundamentals and its ability to serve various segments, including agriculture, housing, and underbanked rural areas.

Gautam Adani, Chairman of the Adani Group, who has known Gaurav Gupta since his days as an investment banker acknowledged Gaurav's valuable contributions to both Adani Capital and the Adani Group.

“He wanted to become an entrepreneur and I backed him. He has not only built a good financial services business with a focus on the underserved in semi-urban and rural India but has also valuably contributed to the Adani Group. I am very happy that a credible investor like Bain is stepping in now and this will help the business grow manyfold from here.”

Gaurav Gupta himself expressed his gratitude to Gautam Adani for the opportunity and support in building a successful financial services business. He stated, "Our aim has always been to support micro-entrepreneurs and first-time homeowners in Bharat and to be the most economical and convenient lender to our customers by leveraging technology."

With the infusion of Rs 1,000 Crores of capital from Bain Capital, he envisions the company growing fourfold from its current standing.

Adani Capital has assets under management or AUM of nearly $500 million and has over 170 branches across eight states. The transaction is expected to close in Q4 2023, pending necessary regulatory and market approvals.

Avendus Capital was the exclusive financial advisor to Adani Capital, Adani Housing Finance and their shareholders on this transaction. Rothschild was the exclusive financial advisor to Bain Capital on this transaction.