On Wednesday, Adani Enterprises Limited (AEL) said it had completed the Kolkata-based SIBIA Analytics and Consulting Services acquisition for Rs 14.8 crore.

The acquisition will help Adani Group enhance its artificial intelligence and machine learning capabilities, the company said in a filing to the exchange on Wednesday.

SIBIA Analytics and Consulting Services was established in 2013 in the business of artificial intelligence and machine learning. The company’s total turnover for the last three financial years was Rs 1.34 crore, Rs 84.9 lakh and Rs 72.04 lakh, respectively.

Adani Enterprises signed a binding term sheet on October 15 to acquire 100% of SIBIA Analytics and Consulting Services.

Last month, the Adani Enterprises board approved a fundraising plan totalling Rs 20,000 crore. These funds will be raised through a further public offering (FPO) of newly issued shares.

Adani Group recently entered the cement industry by acquiring ACC and Ambuja Cement. Adani Enterprises shares were trading flat at Rs 3,767.90.