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Adani Enterprises acquires 100% stake in Kolkata-based SIBIA Analytics

SIBIA, a Kolkata-based advanced analytics and machine learning company, was founded by Angshuman Bhattacharya, who is the company’s CEO.

October 15, 2022 / 07:27 PM IST

Adani Enterprises Limited (AEL) informed the stock exchange on October 15 that it has signed a binding term sheet in relation to the acquisition of a 100 percent stake in SIBIA Analytics and Consulting Services Private Limited.

SIBIA, a Kolkata-based advanced analytics and machine learning company, was founded by Angshuman Bhattacharya, who is the company’s CEO.

As per the exchange filing, “the Board of Directors of SIBIA, immediately upon closing, shall comprise of such number of directors as may be decided by the purchaser (AEL).”

In August this year, Adani Enterprises crossed Rs 3 trillion market capitalisation, becoming the fourth group firm to achieve this milestone after stocks surged over 57 percent during the time.