Adani Capital

Adani Capital Buys MSME lending business of Essel Finance

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Adani’s Another Acquisition

The Non-Banking Financial Company Arm (NBFC) of Adani Group, Adani Capital Pvt. Ltd, has acquired Micro Small and Medium Enterprises (MSME) loan business of Essel Finance. Adani Capital has secured a loan book of around Rs. 145 crores, operating out of 10 cities, comprising approximately 1100 customers and 40 employees through this acquisition. This is Adani’s acquisition of the second asset of debt-laden Subash Chandra Group. Essel group had announced its intention to sell 205 megawatts of its operational solar energy assets to Adani Green Energy Ltd. last year.

Focussing on Improvising Processes

“The acquisition complements our existing MSME business and helps us expand to new geographies, including Noida and Chennai,” said Gaurav Gupta. Chief Executive, Adani Finserve Pvt. Ltd. “We operate in similar segments, which is secured lending focused on income-generating borrowers, it was an opportunistic acquisition for us; in the next 6-12 months, we are more focused on improvising processes, leveraging technologies and on productivity improvements,” he further added.

Adani Capital lends loans across farm, primarily tractor loans, commercial vehicle loans for both new and used vehicles, MSME loans and for supply chain. “We want to be the most economical and convenient lender to this unbanked segment, which either doesn’t get formal finance or gets finance at very unreasonable rates of interest,” said Gupta

Aiming to Expand Presence in Central and East India

Adani Capital is aiming to expand its presence in Central and East India as it was primarily operating in Western India. “We will look to expand the business to eastern states. We are evaluating Madhya Pradesh, Chhattisgarh, and Orissa. You could see us entering these states around mid of next fiscal,” said Gupta.  Adani Housing Finance is present in Gujarat, Maharashtra, and Rajasthan with 27 branches whereas Adani Capital operates in Gujarat, Maharashtra, Rajasthan, and Karnataka with 56 branches. Gupta expects the business to reach Rs.2700-3000 crore by the end of next fiscal through this geographical expansion and organic growth.

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