Adani Enterprises launches Rs 24,930 crore rights issue at 23% discount

Adani Enterprises Ltd on Tuesday opened subscriptions for its rights issue, one of the largest such offerings in India. The issue is priced at Rs 1,800 per share, reflecting a discount of around 23 per cent to the approval-date price of Rs 2,333.70. It will conclude on December 10, 2025.

The offer is open to all eligible shareholders, with promoter groups -- holding about 74 per cent in the company -- set to subscribe to their entitlement.

Funds raised through the rights issue will be directed towards ongoing and upcoming infrastructure projects. These include airports, data centres, green hydrogen, roads, metals, mining and the company's PVC and copper smelting ventures.

A portion of the proceeds will also be used to retire debt and support various digital and media initiatives under incubation.

Key Terms of the Rights Issue

• Record date: 17 November 2025

• Issue period: 25 November–10 December 2025

• Entitlement: 3 rights shares for every 25 fully paid shares held

• Issue price: Rs 1,800 (Re 1 face value; Rs 1,799 premium)

• Total issue size: Rs 24,930 crore (on full subscription)

• Shares offered: 13.85 crore

• Share type: Partly paid-up shares

Payment Structure for Partly Paid Shares

• On application: Rs 900

• First call: Rs 450

• Second and final call: Rs 450

Tentative Call Timelines

• First call: January 12–27, 2026

• Second and final call: March 2–16, 2026