Adani Enterprises acquires 100 pc stake in Kolkata-based SIBIA Analytics

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).”

Adani Enterprises crossed Rs 3 trillion market capitalisation after the stocks of the company surged 57 percent in August this year.

It also became the fourth company in the group to achieve the milestone.

In August, Adani group's media arm announced that it would buy 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.

In a statement, Adani Group said, "Vishvapradhan Commercial Private Limited (VCPL), wholly owned subsidiary of AMG Media Networks Limited (AMNL), has exercised the rights to acquire 99.5% of the equity shares of RRPR Holding Private Limited, a promoter group company of NDTV."

VCPL, along with AMNL & AEL will launch an open offer to acquire up to 26% stake in NDTV, in compliance with the requirements of the SEBI’s (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the company had said.

Abu-Dhabi-based global strategic investment company International Holding Company PJSC (IHD) has invested  Rs 15,400 crore (around $2 billion) in the Adani portfolio companies, Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprise Ltd (AEL).

AGEL, ATL and AEL are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India, through the preferential allotment route.