Adani Enterprises' ₹24,930 cr rights issue 90% subscribed ahead of close

AEL had outstanding loans of ₹1.1 trillion at the end of September 2025, up from ₹80,400 crore a year ago

The Rs 24,930-crore rights issue of Adani Enterprises (AEL), the flagship company of the Gautam Adani Group, was subscribed around 90 per cent a day ahead of its close.

 

According to stock exchange data as at 4.50 pm, shareholders had placed bids for 124.5 million shares as against the offer size of 138.5 million. AEL is issuing the new shares at Rs 1,800 apiece.

 

Shares of the company last closed at Rs 2,250, up 1.5 per cent. AEL will initially issue partly paid-up shares and subscribers will pay in three instalments: Rs 900 per share at the time of application, followed by two calls of Rs 450 each in January and March 2026. The holding-cum-incubation arm of the Adani Group plans to use a significant portion of the rights issue proceeds to repay or prepay existing borrowings.

 

AEL had outstanding loans of Rs 1.1 trillion at the end of September 2025, up from Rs 80,400 crore a year ago.

 

Among the largest public shareholders are Life Insurance Corporation of India (LIC), GQG Partners and Green Enterprises. Nearly three-fourths of the total proceeds will come from the promoter group, which currently holds 73.97 per cent in AEL.

 

In the first half of 2025-26, the company had clocked net sales of Rs 43,210 crore and net profit of Rs 4,292 crore, up 21 per cent from Rs 3,539 crore during the same period a year ago.

 

In 2023, AEL had withdrawn its fully subscribed Rs 20,000-crore follow-on public offering after its share price fell sharply following allegations by US-based short-seller Hindenburg Research.