Adani unit completes acquisition of AI start-up Parserlabs
Adani Enterprises Limited announced today that its joint venture company Sirius Digitech has acquired the remaining 22.5 per cent stake in Parserlabs India Private Limited (PIPL), making it a wholly-owned subsidiary. The transaction, completed on March 19, was valued at ₹45 crore (approximately $5.4 million), with shares purchased at ₹20,000 per share.
The shares of Adani Enterprises Limited were trading at ₹2,336.25 up by ₹17.60 or 0.76 per cent on the NSE today at 2.35 pm.
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, incorporated in March 2019, specialises in sovereign AI and cloud technology through its fully-owned subsidiary Coredge.io India Private Limited. The company’s products serve cloud providers, government departments, and telecom service providers.
The Adani Group stated that the acquisition would strengthen its position in the data centre and cloud services market. Parserlabs has shown significant growth over the past three years, with its turnover increasing from ₹12.09 crore in FY 2021-22 to ₹45.63 crore in FY 2023-24.
The transaction did not require any governmental or regulatory approvals and was not classified as a related party transaction.
