Bain Capital has emerged as the front-runner to acquire a majority stake in Adani Capital in a deal pegged at about Rs 1,500 crore. The deal is expected to be announced any time soon, if not this week.
Private equity firms such as Carlyle Group and Cerberus Capital Management are the others in the fray for the six-year-old shadow bank. The move follows Adani group chairman Gautam Adani’s plans to exit non-core businesses and conserve cash for his core ventures, sources close to the development said.
Adani Capital, which is also looking to raise growth capital from global strategic and financial investors, will pare a majority stake in the firm.
According to the non-banking finance company’s (NBFC) FY22 annual report, Adani Finserve holds the entire shares of the company.