Adani Enterprises Limited (AEL) has announced a ₹24,930-crore rights issue, marking its largest fundraising since the company withdrew its ₹20,000-crore follow-on public offering (FPO) in 2023.
The company has fixed the rights issue price at ₹1,800 per share, representing a 24% discount to Tuesday’s closing price. The issue will open for subscription on November 25, 2025, and close on December 10, 2025.
Eligible shareholders will receive three rights shares for every 25 fully paid-up equity shares held as on the record date of November 17, 2025.
Each rights share will be partly paid-up, with the payment structure as follows:
- ₹900 per share on application
- ₹450 per share in the first call (between January 12 and January 27, 2026)
- ₹450 per share in the final call (between March 2 and March 16, 2026)
The company retains the right to modify the payment schedule if required.
According to board and rights issue committee approvals, the issue will comprise 13.85 crore partly paid-up equity shares, each carrying a premium of ₹1,799 over the face value of ₹1 per share.
If fully subscribed, the issue will increase Adani Enterprises’ total outstanding shares from 115.42 crore to 129.26 crore.
This marks the company’s first major equity fundraising since it scrapped its fully subscribed ₹20,000-crore FPO in early 2023, following allegations by U.S.-based short-seller Hindenburg Research against the Adani Group.
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