Adani's Rs 25,000-crore rights issue closes with 108% oversubscription

Adani Enterprises' Rs 25,000-crore rights issue was oversubscribed by 108%, with bids for 14.95 crore shares against 13.85 crore on offer. The public portion was oversubscribed by 30%, and promoters subscribed fully to their entitlement.

Rights Issue Sees Strong Oversubscription

Adani Enterprises Ltd's (AEL) Rs 25,000-crore rights issue, amongst the largest in India till date, closed on a strong note with 108% oversubscription. As of 5 p.m. on the closing day, the offer had received bids for 14.95 crore shares against 13.85 crore shares on offer.

The issue, among the largest Rights Offerings in India, was closely watched given the group's 74% promoter holding, which made broad public participation essential. Promoters subscribed fully to their entitlement, while the public portion was oversubscribed by 30%, drawing 4.7 crore share bids against 3.6 crore on offer.

Payment Structure and Fund Utilisation

Under the payment structure, investors were required to pay Rs 900 per share on application, followed by two additional calls of Rs 450 each--the first scheduled between January 12-27, 2026, and the second between March 2-16, 2026.

Proceeds from the issue will be used for debt reduction and capital expenditure, including repayment of shareholder loans.

Share Pricing Details

Rights shares were priced at Rs 1,800 a share, with eligible shareholders entitled to 3 rights shares for every 25 held. AEL shares closed on Wednesday at Rs 2,213.90, down 1.3% from the previous close.

AEL's Strategic Expansion and Divestment

Adani Enterprises, the Adani Group's incubator arm, continues to expand across airports, data centers, green hydrogen manufacturing, copper smelting, roads, and PVC manufacturing.

Over the past year, the company has exited its agri-business venture, Adani Wilmar Ltd, selling its 44% stake in phases and raising nearly Rs 15,750 crore from the divestment. (ANI)

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