M&A

M&A

Adani Group’s unit acquires remaining 22.5% in AI JV Parserlabs for Rs.45-Cr

BSE Announcement   Business Line  

Adani Enterprises’ unit Sirius Digitech has acquired the remaining 22.5% stake in Parserlabs India Pvt Ltd (PIPL), making it a wholly-owned subsidiary. The transaction, completed on March 19, was valued at INR 45 crore (about USD 5.4 million), with shares purchased at INR 20,000 a piece.Parserlabs, incorporated in March 2019, specialises in sovereign AI and cloud technology through its fully-owned subsidiary Coredge.io India Pvt Ltd. The company’s products serve cloud providers, government departments, and telecom service providers.

In July 2024, Sirius Digitech had acquired a 77.5% stake in Noida-headquartered cloud platform company Coredge.io.