Ahmedabad (Gujarat) [India]: Adani Enterprises Ltd (AEL) has announced a ₹24,930.30 crore rights issue to raise capital through the issuance of partly paid-up equity shares.
The company’s Rights Issue Committee, at its meeting on November 11, 2025, approved the detailed terms of the offer after receiving in-principle approvals from the BSE and NSE on November 7, 2025.
The issue price has been fixed at ₹1,800 per share, representing a 24% discount to the current market price.
A rights issue enables existing shareholders to buy additional shares at a discounted rate, allowing the company to mobilize funds for expansion, debt reduction, and other corporate purposes.
The issue comprises 13,85,01,687 partly paid-up equity shares with a face value of ₹1 each, amounting to ₹24,930.30 crore, assuming full subscription and payment of all call monies.
As per the exchange filing on Tuesday, the record date for determining eligible shareholders is Monday, November 17, 2025. The entitlement ratio has been set at 3 Rights Equity Shares for every 25 fully paid-up shares held as on the record date.
Post the issue, the company’s outstanding equity shares will increase from 1,15,41,80,729 to 1,29,26,82,416, assuming full subscription. Detailed terms, including the treatment of fractional entitlements, will be outlined in the Letter of Offer.
This comes after AEL’s board approval on November 4, 2025, to raise up to ₹25,000 crore through a rights issue — one of the largest fundraising initiatives by the Adani Group to date. The move underscores the group’s focus on strengthening its capital base and funding future growth projects.
The decision also follows the company’s earlier experience in 2023, when AEL canceled its fully subscribed Follow-On Public Offer (FPO) after the Hindenburg Research report triggered a sharp stock market decline.
At that time, AEL had been planning to raise ₹20,000 crore (USD 2.4 billion) via the FPO. However, after a Securities and Exchange Board of India (SEBI) investigation concluded in September 2024, the regulator cleared the Adani Group of all allegations made in the report.
