Adani Group May Bring Down Promoter Stake In Companies, But Will Hold Majority

Adani Group will likely bring down its holding in the companies it promotes, as many of them mature. In an exclusive interview with NDTV Profit, Jugshinder (Robbie) Singh, group Chief Financial Officer, said that Adani Group would focus that capital on companies where it intends to invest 100% of the risk capital needed.

"Today, on average, we own 69% of the portfolio. It is likely that in the future we may end up owning 60-65%. "This will likely happen in five to six years," Singh said.

He cited the example of Adani Power, which is set to mature and become more stable over the next few years. The promoter shareholding in the company is close to 75% as of March 2025.

"At that point in time there is no need for us to hold 70% of the business. There would be other investors more suited to that equity," Singh said. "They would still want us to hold the majority, which we will."

These investors may include global pension funds and insurance companies, which have a lower cost of capital, according to Singh.

It would be more prudent to move that excess capital and invest it in companies where the group wants to incubate and develop the asset. When asked about which sectors such assets could come from, Singh said that these were still early days to predict that.

Singh's comments come at a time when the group has announced an ambitious $100 billion capex plan over six years, which it intends to focus on the energy, construction and mining sectors.

The group plans to invest Rs 1.5-1.6 lakh crore in capex every year, where a majority of the funds will come from internal cash flows and company profit. Adani Group will tap external funding sources for about Rs 40,000-50,000 crore in debt initially.

Singh expects the capex plan to peak in 2028, after which the cash flows from assets built in the initial phase will kick in, supporting further investments.