Adani Enterprises sets rights issue at Rs 1,800 a share

Mumbai: Adani Enterprises Ltd, the flagship company of the Adani Group, fixed its rights issue price at ₹1,800 per share, a discount of 24% from its closing stock price on Tuesday.

It has fixed November 17 as the record date and aims to raise ₹24,930 crore through the rights issue

In a regulatory filing late Tuesday evening, Adani Enterprises said it will be issuing 138.5 million partly paid-up equity shares which will have a face value of ₹1 each.


A rights issue is a capital-raising instrument used by a company.

While dates of the rights issue are yet to be disclosed, the company said those who hold its shares as of November 14 will be eligible to subscribe to the rights issue.

Shareholders will be entitled to receive three rights equity shares for every 25 fully paid-up equity shares they had as on the record date.

Shares of Adani Enterprises ended nearly flat Tuesday at ₹2,366.30 on the BSE.