Adani Enterprises Limited (AEL) informed the stock exchange on October 15 that it has signed a binding term sheet in relation to the acquisition of a 100 percent stake in SIBIA Analytics and Consulting Services Private Limited.
SIBIA, a Kolkata-based advanced analytics and machine learning company, was founded by Angshuman Bhattacharya, who is the company’s CEO.
As per the exchange filing, “the Board of Directors of SIBIA, immediately upon closing, shall comprise of such number of directors as may be decided by the purchaser (AEL).”
In August this year, Adani Enterprises crossed Rs 3 trillion market capitalisation, becoming the fourth group firm to achieve this milestone after stocks surged over 57 percent during the time.
Adani Group’s media arm had announced the same month that it would purchase a 29.18 percent stake in New Delhi Television Ltd (NDTV), and make an open offer to acquire another 26 percent of the shares in the company. The acquisition of 29.18 percent stake will be indirect, the company had said, as it would be made through Vishvapradhan Commercial Pvt Ltd (VCPL), a wholly owned subsidiary of AMG Media Network Ltd (AMNL), which is owned by Adani Enterprises Ltd (AEL).
Notably, the International Holding Company PJSC (IHD), an Abu-Dhabi-based global strategic investment company, announced the completion of an investment transaction in the Adani portfolio companies, Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprise Ltd (AEL). This investment is worth Rs 15,400 crore (around $2 billion).AGEL, ATL and AEL have been provided capital by IHC, all of which are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India, through the preferential allotment route.
Source: moneycontrol.com
