Adani – backed NBFC plans Rs 1,500 crore-IPO as soon as 2024
A non-bank lender backed by Gautam Adani, Asia’s richest person, is planning to raise at least Rs 1,500 crore ($ 188 million) in an original public immolation in Mumbai that could take place as early as 2024. Adani Capital’s first- time share trade will offer about a 10% stake in the shadow bank and target a valuation of around $ 2 billion, Managing Director and Chief Executive Officer Gaurav Gupta said.
Still,” Gupta said in an interview in Mumbai, where the lender to growers and small and medium- sized businesses is grounded, “If you’re listed also your capability to raise incremental capital is advanced.
A small player in the country’s finance sector despite participating a president with one of India’s biggest empires, Adani Capital is looking to capture further of the request for loans from 30,000 rupees to 3 million rupees using technology.
“We aren’t a fintech company, but a credit company which is using technology to acquire or capitalize guests more effectively,” said Gupta. The lender uses a direct- to- client distribution model and 90% of the business is tone- generated, he said.
Gupta joined up with Adani in 2016 after two decades in banking at enterprises including Nomura effectsInc And Rothschild &Co., most lately serving as Macquarie Group Ltd.’s head of India investment banking.
The Indian mogul’s fiscal unit launched in 2017 and has started small, reporting net income of about 163 million rupees in the time ended March 31, 2021, according to its 2020- 2021 periodic report. That’s still a jump from the former time, when the coronavirus epidemic aggravated the country’s shadow banking extremity.
The establishment has 154 branches in eight countries and about 60,000 borrowers, Gupta said. It presently looks after about 30 billion rupees of loans, he added, and pegged the gross non-performing means at about 1%. “My plan is to double the loan book every time,” he said.
ABOUT ADANI CAPITAL LTD.
Adani Capital is the non-banking financial company (NBFC) arm of Adani Group and commenced lending operations in April 2017. company aims to become the foremost financial services firm with a focus on ‘Entrepreneurship’. Under Adani Group’s philosophy of Nation Building, Adani Capital aims to play a key role in inclusive growth by focusing on rural development & supporting medium and small enterprises through capital and industry best practices.
Our Business can be broadly categorized as follows: Retail and Rural Lending: Catering to Agri value chain & MSME financing Wholesale Lending: Catering to Infrastructure, Corporate and Real Estate financing. Our approach is “Customer First”, and our products are focused around income generation and business enhancement of our Customers. Our team comprise of experienced & self-motivated professionals from the industry, committed to create a distinctive financial services business with Customer ownership and a complete life cycle focus.
As our country’s economy is poised for an exponential growth with several structural reforms and strong fundamentals, we feel excited to be part of this growth journey and are committed to own and service our Customers to address their financial needs.
To be a world class leader in businesses that enrich lives and contribute to nations in building infrastructure through sustainable value creation.
To contribute to India’s growth story by providing accessible financing to retail, wholesale and rural audience, thereby unleashing its vast economic potential and spurring the country’s growth to even greater heights.