Adani Enterprises Limited made an announcement today regarding its joint venture company Sirius Digitech acquiring the remaining 22.5 per cent stake in Parserlabs India Private Limited (PIPL), thereby making it a wholly-owned subsidiary. The transaction, which was completed on March 19, was valued at ₹45 crore (approximately $5.4 million), with shares purchased at ₹20,000 per share.
At 2:35 pm today, the shares of Adani Enterprises Limited were trading at ₹2,336.25, up by ₹17.60 or 0.76 per cent on the NSE. This acquisition follows Sirius Digitech’s initial purchase of a 77.5 per cent stake in July 2024. Sirius Digitech is a joint venture of Adani Global Limited, Mauritius, which is a wholly-owned subsidiary of Adani Enterprises.
Parserlabs, established in March 2019, specializes in sovereign AI and cloud technology through its fully-owned subsidiary Coredge.io India Private Limited. The company’s products cater to cloud providers, government departments, and telecom service providers.
The Adani Group sees this acquisition as a strategic move to bolster its position in the data center and cloud services market. Parserlabs has shown significant growth in the past three years, with its turnover increasing from ₹12.09 crore in FY 2021-22 to ₹45.63 crore in FY 2023-24.
No governmental or regulatory approvals were required for this transaction, and it was not classified as a related party transaction. The acquisition is anticipated to have a positive impact on Adani Enterprises’ operations in the tech sector.
