Daijiworld Media Network – Mumbai

Mumbai, Nov 25: Adani Enterprises Ltd, the flagship company of billionaire Gautam Adani’s group, on Tuesday opened subscriptions for one of India’s largest rights issues, offering shares at Rs 1,800 each — around 24% cheaper than the approval-date price.

The total issue size, assuming full subscription, stands at Rs 24,930.30 crore through the issuance of over 13.85 crore new shares, according to the company’s filing. The offer will remain open until December 10.

Under the rights issue, shareholders will receive three rights equity shares for every 25 fully paid shares held. Promoters, who currently hold about 74% in the company, have confirmed they will fully subscribe to their entitlement.

At the issue price, Adani Enterprises is valued at nearly Rs 2 lakh crore. Analysts estimate the value of the company’s airport business alone — India’s largest airport network — to be between Rs 2 lakh crore and Rs 2.5 lakh crore, with some projections touching Rs 3 lakh crore.

Funds raised will be used to support next-generation infrastructure projects across sectors such as airports, data centres, green hydrogen, roads, PVC, copper smelting, metals, mining, digital services and media. A portion of the proceeds will also go toward debt reduction.

Investors will need to pay Rs 900 per rights share at the time of application, with the remaining Rs 900 payable in two later calls. Unsubscribed or unrenounced rights entitlements will lapse after the issue closes on December 10, 2025, the company said in its offer document.