There is good news for investors who earn by betting on an initial public offering (IPO). In fact, another IPO of Asia’s richest billionaire Gautam Adani is about to launch. This information was presented in a Bloomberg report. Let us tell you that in February of this year, the initial public offering of the Adani Group, Adani Wilmar, was launched. It made IPO investors rich.
According to the report, the initial public offering of Adani Capital, a subsidiary of the Adani Group, will be launched. Gaurav Gupta, managing director and CEO of Adani Capital, said the plan is to raise at least 1,500 crore ($188 million) through the IPO. He said the initial public offering could come as early as 2024.
$2 billion valuation: According to Gaurav Gupta, there will be an offer to sell about 10% of the shares of Adani Capital and a valuation of about $2 billion will be targeted. “We are not a financial technology company, but a trust company that leverages technology to communicate with customers more effectively,” Gupta said.
Let us tell you that Adani Capital started in 2017 and the company reported a net income of around Rs 16.3 crore for the year ended March 31, 2021. The company has 154 branches in eight states and has nearly 60,000 borrowers. According to Gaurav Gupta, it is currently offering loans worth around Rs 3,000 crore.