Adani Family to Raise a Whopping $3.6 Billion Through Promoter Share Sale in Adani Group

The Adani family plans to raise $3.6 billion by selling shares in their companies, marking their largest fundraising effort yet. This decision is part of their strategy to balance their wealth, especially after the sharp rise in the value of Adani Group stocks over the past year.

No Debt Repayment, Just Portfolio Rebalancing

According to an unnamed source, this move is not meant for debt repayment, as the family has no significant debts. Instead, it’s aimed at managing the volatility in the stock prices of their listed companies. The source mentioned that the family might sell 0.5% to 3% of their promoter stake, depending on the market conditions. Given the current high stock prices of most Adani Group companies, the sale is likely to be closer to 3%, potentially bringing in around ₹30,000 crore.

Immediate Plans

In the short term, the family plans to sell shares worth ₹3,000-4,000 crore in Ambuja Cements Ltd., where they hold a 70.3% stake. Several buyers, including the US-based investment firm GQG Partners LLC and a few other large entities, are expected to purchase these shares through a private placement. However, an Adani Group spokesperson declined to comment on the fundraising plan.

Supporting Strategic Growth

This share sale is part of a broader strategy to support the group’s growth, attract long-term investors, and align with global best practices. The Adani family is keen on maintaining a strong balance sheet while ensuring that their companies continue to grow strategically.

Adani Family

Recently, the Adani family was recognized as India’s most valuable first-generation family business, with a total value of ₹15.44 trillion, according to a report by Barclays-Hurun India. While ₹10 trillion of this value is held in listed stocks, the remaining wealth is in unlisted businesses, including real estate, infrastructure, renewable energy, data centers, and defense equipment.

Accumulating Shares Amid Market Fluctuations

As Adani Group stocks fluctuated, the promoter family, along with global investors, bought additional shares in the group’s firms. The family also repaid about $2.55 billion to release many of their pledged shares. This move was seen as an effort to reassure investors following allegations by Hindenburg Research that the group was overly leveraged.

Rising Stock Prices

Despite these challenges, Adani Group stocks have generally risen in recent months, giving the promoters an opportunity to monetize part of their stakes. Currently, the family holds 65-75% of the shares in most of the group’s listed companies, providing ample room for further stake sales if needed.

Expanding Investments in Key Sectors

On a broader level, the Adani Group plans to invest up to ₹1.3 trillion in fiscal 2025, focusing on expanding its green energy, airports, and infrastructure businesses. Among its companies, Adani Green Energy alone plans to invest ₹34,000 crore to expand its facilities in Khavda, Gujarat. The group, which earned over ₹82,000 crore in cash in fiscal 2024, also plans to invest $21 billion in its airports business, with a goal of listing this segment by FY27.