Adani group promoters looking to trim more stake to build cash reserves

The promoters of the Adani group are looking to cut more of their stake in the group’s companies to create a liquidity buffer for new opportunities, The Economic Times (ET) reported on Thursday. So far, the promoters have sold stakes to GQG partners and are now having discussions with global investors to divest more.

“They (promoters) are of the view that building cash reserves is the best way forward given the uncertain global investment environment,” a person aware of the matter was quoted as saying in the report.