Adani Enterprises to bring Rs 25,000 crore rights issue at 24% discount on current prices

Ahmedabad (Gujarat) [India], November 12 (ANI): Adani Enterprises Ltd (AEL) has announced a Rs 24,930.30 crore rights issue to raise capital through the issuance of partly paid-up equity shares.
The company's Rights Issue Committee, in its meeting held on November 11, 2025, approved the detailed terms of the offer following the in-principle approval received from BSE and NSE on November 7, 2025.
The issue price has been set at Rs 1,800 per share, representing an approximate 24 per cent discount to the current market price.
A rights issue allows existing shareholders to purchase additional shares at a discounted price, enabling the company to raise funds for expansion, debt repayment, or other corporate purposes.
The rights issue will comprise 13,85,01,687 partly paid-up equity shares of face value Rs 1 each, aggregating to Rs 24,930.30 crore, assuming full subscription and payment of call monies.
The company, in its filing to the exchange on Tuesday, stated that the record date to determine eligible shareholders entitled to participate in the issue has been fixed as Monday, November 17, 2025.
The rights entitlement ratio is set at 3 Rights Equity Shares for every 25 fully paid-up Equity Shares held by shareholders as on the record date.
Before the issue, the company had 1,15,41,80,729 outstanding equity shares, which will increase to 1,29,26,82,416 shares post the rights issue, assuming full subscription.
Other detailed terms, including the treatment of fractional entitlements, will be included in the Letter of Offer to be filed by the company.
This development follows AEL's earlier board approval on November 4, 2025, for raising up to Rs 25,000 crore through the rights issue.
The move marks one of the largest fundraising efforts by the Adani Group, highlighting its continued focus on strengthening its capital structure and supporting future growth initiatives.
Following the Hindenburg Research report in early 2023 and the stock crash, Adani Enterprises (AEL) canceled its fully subscribed Follow-On Public Offer (FPO) and refunded the money to the investors.
Adani Enterprises was in the process of raising Rs 20,000 crore (approximately USD 2.4 billion at the time) through an FPO when the Hindenburg report was released, which alleged stock manipulation and accounting fraud by the group.
But in September last year, India's market regulator SEBI, post its probe cleared Adani group of all allegations made by Hindenburg. (ANI)