Adani Group is gearing up for a debt cut by divesting part of the promoter stake in key Partner Companies such as Adani Power and Ambuja Cements.
The group’s promoters are slated to offload up to 5 percent of Adani Power and Ambuja Cements. Still, the Adani Group did not make a statement regarding this potential sale of its oil and gas business.
Thus, at the end of the June quarter, the ‘Promoter’ category held 72% of the Vijay Group of Companies ownership, full control of Adani Power, and 70% ownership of Adani Transmission. In SG, the company holds 33% in Ambuof Cements.
After the report, Adani Power’s stock dropped by 1%. 2%, reaching ₹686. 75, which was the lowest they had been. On the smaller side, Ambuja Cements reported a rise of 0. 5%, trading at ₹632. 5.
