Adani IPO: This company of Gautam Adani is bringing IPO, prepare money to earn big
Highlights
- Dani Capital plans to raise Rs 1,500 crore through IPO
- The firm has 154 branches in eight states and has close to 60,000 borrowers.
- The firm currently looks after loans of around Rs 30 billion.
A non-bank landing company backed by Asia’s richest man Gautam Adani is going for an IPO. Adani’s company Adani Capital is planning to raise at least Rs 1,500 crore (over $188 million) through an IPO. This IPO may come in early 2024.
According to Gaurav Gupta, managing director and CEO of the company, Adani Capital will offer around 10 per cent stake in Shadow Bank for the first time through the share sale and will target a valuation of around $2 billion. According to Gupta, any listed company has high capital raising potential. Adani Capital provides loans to farmers and small and medium sized businesses.
Despite being associated with one of the largest conglomerates in India, Adani Capital is still a very small company in the country’s finance sector. Adani Capital is looking to expand its market share for loans ranging from Rs 30,000 to Rs 30 lakh with the help of technology.
We are not a fintech company, but a credit company that is leveraging technology to more effectively acquire or underwrite customers, Gupta said.
Nomura Holdings Inc. Gupta joined Adani in 2016 after two decades of experience at various firms including Rothschild & Co. and currently serving as Head of India Investment Banking, Macquarie Group Ltd.
Net income of Rs 163 million
The financial arm of the Indian tycoon launched in 2017 and reported a net income of around Rs 163 million for the year ended March 31, 2021, as per its 2020-2021 Annual Report. The crisis in the country during the coronavirus pandemic had exacerbated the banking crisis. Meanwhile, the company achieved better results.
154 branches in eight states
Gupta said the firm has 154 branches in eight states and has around 60,000 borrowers. He said it currently looks after loans of around Rs 30 billion, and gross NPAs are pegged at around 1 per cent. “I plan to double the loan book every year.
Latest Business News
function loadFacebookScript(){
!function (f, b, e, v, n, t, s) {
if (f.fbq)
return;
n = f.fbq = function () {
n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);
};
if (!f._fbq)
f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
}(window, document, ‘script’, ‘//connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1684841475119151’);
fbq(‘track’, “PageView”);
}
window.addEventListener(‘load’, (event) => {
setTimeout(function(){
loadFacebookScript();
}, 7000);
});
,
