Adani JV, Sirius Digitech, acquires remainder of PIPL

Adani Enterprises announced today that its joint venture company, Sirius Digitech, has acquired the remaining 22.5% stake in Parserlabs India Private Limited (PIPL). This acquisition makes PIPL a wholly-owned subsidiary of Sirius Digitech. Sirius Digitech originally acquired a 77.5% stake in PIPL back in July 2024. The cost of acquiring the additional 22,500 equity shares was Rs. 450 million. PIPL is a deep tech startup focused on sovereign AI and cloud platforms with a turnover of Rs. 45.63 crore for financial year 2023-24. The company's products are used by cloud providers, government departments, and telecom service providers. The acquisition is not considered a related party transaction and does not require any governmental or regulatory approvals.