Bain Capital to take 90% of India's Adani Capital, Adani Housing

U.S. private equity giant also commits $120 million in primary capital

Adani Capital focuses on segments such as agriculture, housing and underbanked rural areas. (Source photo by Reuters. Logos from Brain Capital, Adani Housing Finance and Adani Capital websites)

PARAMITA CHATTERJEE, DealStreetAsia

July 24, 2023 11:45 JST

NEW DELHI -- Bain Capital has entered into a definitive agreement to acquire 90% of Adani Capital and Adani Housing.

The transaction will see the U.S.-based private equity giant buying 100% of the Adani family's private investments in the company, with Gaurav Gupta, a former Lehman Brothers and Macquarie investment banker, fully rolling his stake in the company and continuing to serve as managing director and CEO. Gupta has been leading Adani Capital since 2016.