Other Private Equity/Strategic Investments
Adanis buy 10% stake in CSC Grameen eStore
The Adani Group through its financial services arm, Adani Finserve has acquired 10% equity stake in the government's rural e-commerce venture CSC Grameen eStore. The Adani Group will also get a seat on the board of the venture. The group will jointly work with the government to enhance product offerings and also provide credit through its NBFC arm Adani Capital to support micro entrepreneurs in rural India. CSC Grameen eStore is a joint venture between the Ministry of Electronics and Information Technology (Meity) and industry. The Ahmedabad-headquartered group's investment in the rural e-commerce platform follows in the wake of similar investments from HDFC Bank, which owns a 1.5% stake as well as Tata Digital, which bought a 5% holding.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
