On Wednesday, Adani Enterprises Limited (AEL) announced that it has successfully paid Rs 14.80 crore to acquire Kolkata-based SIBIA Analytics and Consulting Services.
According to a document the business made to the markets on Wednesday, the acquisition will benefit Adani Group in improving its skills in artificial intelligence and machine learning.
SIBIA Analytics and Consulting Services, founded in 2013, works in the artificial intelligence and machine learning industries. Over the past three fiscal years, the company has generated total revenues of Rs 1.34 crore, Rs 84.9 lakh, and Rs 72.04 lakh, respectively.
On October 15, Adani Enterprises signed a legally binding term sheet to buy all of SIBIA Analytics and Consulting Services.
The board of Adani Enterprises approved a plan to raise Rs 20,000 crore last month. The money will be raised through a new issue of equity shares in a further public offering (FPO).
With the acquisition of ACC and Ambuja Cement, the Adani Group recently made its entry into the cement industry.
Adani Enterprises’ stock was trading unchanged at Rs 3,767.90.
