Adani Enterprises has acquired a 100% stake in SIBIA Analytics and Consulting Services Private Limited (SIBIA) for cash. The ports-to-power conglomerate announced that it had acquired a 100% stake in SIBIA, a company in the Analytics, Machine Learning, and AI industry, for a total cash consideration of Rs 14.8 crore.
According to the conglomerate giant’s filing with the stock exchanges, the acquisition is strategic in nature and will help the Adani Group improve its AI and ML capabilities.
On December 1, 2013, SIBIA was incorporated in India and registered with the Registrar of Companies, West Bengal in Kolkata. The company has a turnover of Rs 134.26 lakhs, an authorized share capital of Rs 4.5 lakh, and a paid-up share capital of Rs 2,90,040.