Adani Enterprises to raise up to ₹25K cr via rights issue

Fundraise to push growth across airports, data centres, green energy, roads

- DEV CHATTERJEE

Adani Enterprises Ltd (AEL), the flagship firm of the Adani group, plans to raise up to %25,000 crore through a partly paid-up rights issue — one of the largest equity fundraising plans in India this year — to bolster its balance sheet and catalyse the group’s next growth phase across airports, data centres, green energy and roads.

The move marks a renewed push by the Adani group to tap the capital markets following a lull after the Hindenburg Research report in early 2023 had triggered a selloff in group firms’ stocks and a temporary suspension of its earlier plan to raise 20,000 crore through a follow-on public offer of shares that year. The share prices of group firms have recovered since then after the promoters sold a part of their stake to a clutch of overseas investors.