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Adani Group has announced the issuance of rights issue of Rs 24,930 crore of Adani Enterprises to raise funds. Investors who already have shares will get Adani Enterprises shares cheaper by about 25 percent.
Adani Enterprises There was a strong rise in the shares of . The company’s shares rose by more than 6 percent to reach an intraday high of 2,517, which is considered to be its best performance since May. The reason behind this rise is the new announcement of the company. That announcement is a rights issue of Rs 24,930 crore. This issue is the biggest fundraising plan till date. This is special because the company had to cancel the FPO worth Rs 20,000 crore in 2023.
The company has fixed the rights issue price at Rs 1,800 per share, which is about 24% less than Tuesday’s closing price. This means that existing shareholders will get an opportunity to buy these shares cheaply. This issue will be open for subscription from 25th November till 10th December.
Money will have to be paid in two parts
Adani Enterprises said that investors will have to pay Rs 900 per share while applying. After this, payment will have to be made in 2 more installments. First Rs 450 between 12th to 27th January 2026, and then Rs 450 between 2nd to 16th March 2026. The company also reserves the right to change the payment dates if necessary.
Under the rights issue, 13.85 crore partially paid equity shares will be issued. The face value of each share is Re 1 and there will be a premium of Rs 1,799. According to this scheme, shareholders who hold 25 shares on the record date of November 17 will get the right to 3 rights shares.
Hindenburg had given the blow
This rights issue is very important for Adani Enterprises, because in the beginning of 2023, the company had to face allegations from American short selling firm Hindenburg Research. Then it had withdrawn its fully subscribed FPO of Rs 20,000 crore. Now this new issue is being considered as the company’s biggest attempt to raise capital.
If this issue is fully subscribed, the total number of shares of Adani Enterprises will increase from 115.42 crore to 129.26 crore. After Wednesday’s rally, the company has covered a large part of its losses so far this year, and its year-to-date loss is now just around 2%.
