Mumbai: Gautam Adani-led Adani Enterprises Limited (AEL)’s ₹25,000 crore rights issue has been oversubscribed by 108%, with bids for nearly 150 million shares as against the offer size of 138.5 million shares. Most of the demand came from public shareholders who have expressed confidence in the conglomerate’s growth strategy, even as experts remain concerned about the group’s debt-fuelled expansion plans.
The rights issue is exclusive to its existing shareholders, where the company issues fully or partly paid up equity shares at a discounted price. In this case, AEL’s shareholders are eligible for three rights shares for every 25 AEL shares they own bought before November 14. Allottees will receive partly paid up shares with ₹900/share payable at the time of application followed by two installments of ₹450 each in January and March 2026.
Adani Enterprises has emerged as one of India’s largest conglomerates in the infrastructure space, expanding through acquisitions, partnerships, and investments in new technologies. It has also exited its non-core FMCG business, selling its stake in AWL Agri Business to its JV partner Wilmar International.
The company aims to use the proceeds for fresh investments and to repay debt, which has reached up to ₹80,400 crore last year. Besides retail investors, various large institutions, including SBI, Aditya Birla, Kotak and GQG Mutual Funds also invested in the issue, according to various sources.
The shares for the issue will be allotted by Thursday, December 11 and will be credited the next day.
