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Acquisition of Adani Capital opens access to India's 'underbanked' market, Bain says

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In July, the Boston-based firm agreed to acquire 90% of Adani Capital and Adani Housing, buying out all of Indian billionaire Gautam Adani's family's stake in the company.

Barnaby Lyons, a partner and global co-head of Bain Capital Special Situations, noted the deal will provide a crucial lending perform to India's micro, small and medium enterprises, a market that is growing rapidly.People walk past a screen displaying news featuring on Adani Group inside the BSE building in Mumbai, India, on Thursday, Feb. 2, 2023.U.S.

The deal will provide a crucial lending platform to India's micro, small and medium enterprises — a market that is growing rapidly, said Barnaby Lyons, a partner and global co-head of Bain Capital Special Situations. "Just the structurally underbanked nature of the economy means that there is a ... need for innovative finance platforms like Adani Capital," he told CNBC's ""This specific business sits in a segment — small lending to micro SMEs, the agricultural space and affordable housing, which actually benefits from some of the best demand supply dynamics."

Despite the structural growth trends in this segment, "the granular nature of the lending makes it difficult for the traditional banks to access," Lyons added.

 

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