Adani Group to provide customised solutions to entrepreneurs

ANI | Updated: May 23, 2018 18:54 IST

New Delhi/Mumbai[India], May 23 (ANI): The Adani Group has invested Rs. 500 cr in Adani Capital, it's financial arm, in a bid to offer customised solutions to new entrepreneurs.
From farmers to small businessmen, ventures of different scales could benefit from this tech-driven endeavour.
The move comes amid widespread caution among public sector banks over the recent spate of towering bad loans.
Started just over a year ago, the Adani Capital has accomplished an impressive footprint with 200 employees across 19 branches, comprising a healthy mix of Tier 2 cities and rural locations such as Nashik, Kolhapur, Himmatnagar and Mehsana.
"Our aim is to provide customised solutions to entrepreneurs, be it a farmer or a small businessman, by leveraging technology," said Gaurav Gupta, Chief Executive of Adani Capital.
"Entrepreneurs are the backbone of the economic growth and they are our target customers markets. We find a void in the existing scheme of things, which would be a customised solution for entrepreneurs," he added.
The products bouquet ranges between INR one lakh and INR 50 crores with a focus on commercial vehicles, business loan segments and agro ventures.
The company's all-digital channel finance product is already live with more than 100 customers.
Two banking sector veterans, R M Malla, ex-chairman and managing director of IDBI Bank, and Sunil Gulati, former top executive with RBL and Yes Bank, have been appointed as independent directors in the company.
Once heading the investment banking business of the Macquarie Group, Gupta, took up this unique entrepreneurial assignment in the conglomerate.
Market sentiments indicate healthy growth in the near future for Non Banking Financial Companies (NBFCs). Estimates suggest that the non-banking financiers might account for nearly one-fifth of the overall loan market share by 2020. (ANI)