Adani Enterprises completes acquisition of 100% stake in SIBIA

28 Dec 2022 , 01:05 PM

Adani Enterprises Limited informed that it has completed acquisition of 100% stake in SIBIA Analytics and Consulting Services Private Limited on December 27, 2022.

This information is in continuation of company’s announcement dated October 15, 2022.

The company stated that this acquisition is strategic in nature and it will aid Adani Group to enhance its Artificial Intelligence/Machine Learning capabilities.

The consideration for the said transaction has been fixed at Rs14.80 crore.

SIBIA is incorporated in India and registered with the Registrar of Companies, West Bengal at Kolkata on December 1, 2013, stated the company in its exchange filing on Wednesday.

During the previous financial year, the company has a turnover of Rs134.26 lakhs.

At around 01.01 PM, Adani Enterprises was trading 0.10% higher at Rs3,773.60 per piece, against previous close of Rs3,769.65 on NSE. The counter hit an intraday high and low of Rs3,792 and Rs3,745 respectively so far in the day.

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