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By Malvika Gurung
Investing.com — The flagship company of Gautam Adani, Adani Enterprises (NS:) has completed the acquisition of a 100% stake in SIBIA Analytics and Consulting Services Private Limited (SIBIA) in cash consideration.
The ports-to-power conglomerate announced on Dec 28 that it acquired a 100% stake in the Analytics, Machine Learning and AI industry company SIBIA on Thursday for a complete cash consideration of Rs 14.8 crore.
The acquisition is strategic in nature and will help the Adani Group to enhance its AI and ML capabilities, stated the conglomerate giant’s filing to the stock exchanges.
SIBIA was incorporated in India and registered with the Registrar of Companies, West Bengal at Kolkata on December 1, 2013. The turnover of the company stands at Rs 134.26 lakhs with an authorized share capital of Rs 4.5 lakh and a paid-up share capital of Rs 2,90,040.
Shares of Adani Enterprises traded flat at Rs 3,766.2 apiece at the time of writing, after hitting the session’s high of Rs 3,792 apiece on Wednesday.
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