Adani Enterprises’ board approves rights issue to raise Rs 24,930 crore at 24 pc discount
Ahmedabad, India – Adani Enterprises, the flagship company of the Adani Group, has cleared a big fundraising move on Tuesday. The board approved a partly‑paid rights issue that will bring in about ₹24,930 crore by issuing 13.85 crore new shares to existing shareholders.
The new shares will trade at ₹1,800 apiece, a 24 % discount from the company’s closing price of ₹2,370.2 on Tuesday. Eligible shareholders can buy the shares in a 3‑to‑25 ratio – for every 25 fully‑paid shares held on the record date, a shareholder can buy three new rights shares.
The record date for eligibility is set for November 17. When the deal closes, Adani’s shares could rise by about 12 %, bringing total shares outstanding to more than 1.29 billion.
The company says the rights issue will strengthen its balance sheet and support the next growth phase of its expanding core infrastructure businesses. “We want to keep our capital structure strong as our core infra businesses scale up,” said a company spokesperson.
Adani Enterprises has shown solid earnings growth this year. For the July‑September quarter, net profit jumped 84 % to ₹3,199 crore. The first half of the current fiscal year delivered a consolidated EBITDA of ₹7,688 crore, and a profit before tax of ₹2,281 crore. The company’s infrastructure arm now contributes 71 % of total EBITDA, up 5 % year‑on‑year.
With the rights issue, Adani aims to keep its momentum and lay a sturdy financial foundation for future expansion.
Source: ianslive
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