Gautama AdaniImage credit source: PTI
Gautam Adani is gearing up to change the face of Artificial Intelligence and Cloud services in the country. For this, the joint venture of Adani Group and Sirius International Holding will buy AI and a cloud platform. The name of this company is Corj.io. Actually, the name of the parent company of Coorj.io is ParserLabs India. The joint venture will buy a 77.5 percent stake in ParserLabs India. In case of share acquisition, the price of one share will be Rs 20,000. The face value of which will be Rs 1. An agreement has been signed between the joint venture and ParserLabs India.
The deal will be closed by then.
According to the information provided to the stock market by Adani Enterprises, the flagship company of the Adani Group, this entire deal or rather the acquisition of the company is likely to be completed by the end of September 2024. According to the information, ParserLabs India owns 100 percent of Courge.io India. In the last financial year 2023-24, the company’s turnover was Rs 45.63 crore. What is special is that in the last three financial years the company’s turnover has increased by about 4 times. In the financial year 2023, the company’s turnover was Rs 28.94 crore. While in the financial year 2022, this turnover was Rs 12.09 crore.
Adani Enterprises shares surge
If we talk about the shares of Adani Enterprises, on Tuesday the shares of Adani closed at Rs 3,110 with an increase of Rs 19.90. However, on Tuesday the shares of the company opened at Rs 3,128.15. During the trading session, the shares of the company also touched the day’s high of Rs 3,138. On June 3, the shares of the company touched a 52-week high of Rs 3,743. In the last five years, the company has provided investors with a return of around 2,300 per cent. At present, the market capitalisation of the company is Rs 3,54,540.35 crore.
This is a joint venture
Gautam Adani Last year, Sirius International Holding Limited of UAE-based international holding company IHC and Adani Enterprises formed a joint venture called Sirius Digitech International Limited. In which Adani holds a 49 percent stake and Sirius International Holding Limited holds a 51 percent stake. Apart from AI, the job of this new joint venture will be to learn about the Internet of Things and Blockchain.
