Mumbai, Nov 25 Billed as one of the largest such offerings in India, Adani Enterprises Ltd (AEL) on Tuesday opened subscriptions for its Rs 24,930 crore rights issue, which is priced at Rs 1,800 per share -- a discount of roughly 24 per cent -- and is open to all eligible shareholders.
Promoters, who hold about 74 per cent in the company, will also subscribe to their portion. At the issue price, Adani Enterprises would be valued at nearly Rs 2 lakh crore. The rights issue will close on December 10.
The flagship Adani Group company, which operates India’s largest airport network, has seen analysts peg the value of its airports business at Rs 2–2.5 lakh crore, with some estimates reaching up to Rs 3 lakh crore.
Proceeds from the rights issue will be deployed towards next-generation infrastructure projects, including airports, data centres, green hydrogen, roads, PVC and copper smelting capacities, as well as metals, mining, digital and media ventures being incubated by the flagship firm, plus retirement of some of its debt as well.
The company’s board, earlier this month, approved the issuance of 13.85 crore partly paid-up equity shares to existing shareholders, aiming to further strengthen its capital structure.
The company plans to issue 13,85,01,687 new shares, potentially increasing its outstanding equity shares by 12 per cent to 1,29,26,82,416. "The Rights Equity Shares are being offered on a rights basis to Eligible Equity Shareholders in the ratio of 3 Rights Equity Shares for every 25 fully paid-up Equity Shares held on the record date," AEL said in its earlier exchange filing.
The rights issue is aimed at "strengthening its balance sheet further to support the next phase of incubation" as its core infrastructure businesses scale and contribute a growing share to earnings.
Meanwhile, the Adani Portfolio has delivered a stellar financial performance in the first half of this fiscal (H1 FY26), clocking a robust capex of Rs 67,870 crore ($7.6 billion) with EBITDA rising to an all-time high of Rs 47,375 crore ($5.3 billion).
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