InCred Growth Partners Fund and Global South Capital on their acquisition of a significant minority stake in Adage Automation Private Limited.

Jul 20, 2026

InCred Growth Partners Fund and Global South Capital on their acquisition of a significant minority stake in Adage Automation Private Limited.

AZB & Partners acted for InCred Growth Partners Fund and Global South Capital on their acquisition of a significant minority stake in Adage Automation Private Limited – a frontrunner in designing, manufacturing, and supplying gas analytical and emission monitoring systems and solutions – for an aggregate consideration of approximately INR 230 crores. The capital is proposed to be used by Adage towards AI-enabled industrial software and digital technologies and expansion of its manufacturing base and overseas markets

The Deal Team comprised of Senior Partner Anand Shah, Partner Harshil Dalal, Senior Associate Riddhi Upadhyay and Associate Yashvi Bhagat.

The Due Diligence Team comprised of Partner Vikram Shroff, Senior Associates Vivek Ilawat and Riddhi Upadhyay and Associates Ananya Gandhi and Yashvi Bhagat.

Congratulations to the team on this deal.

AUTHORS & CONTRIBUTORS

Partner:

Anand Shah

Harshil Dalal

Vikram Shroff
Associates:

Riddhi Upadhyay

Yashvi Bhagat

Vivek Ilawat

Ananya Gandhi

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