Adani rights issue to raise nearly ₹25k cr

Adani Enterprises, the flagship firm of billionaire Gautam Adani’s diversified conglomerate Adani Group, opened its mega rights issue on Tuesday, looking to raise nearly ₹25,000 crore.

- Anubhav Mukherjee & Nehal Chaliawala

The rights issue is priced at a 24% discount.

(REUTERS)

The issue priced at ₹1,800 per share, a discount of almost 24% for shareholders, closes on Wednesday.

Investors participating in the issue will get three equity shares for every 25 fully paid shares held in the company. To be sure, only existing investors can participate in the issue. Adani Enterprises is offering 138.5 million equity shares at an issue price of ₹1,800 per share ata face value of ₹1 apiece.

On full subscription, the firm is expected to raise ₹24,930 crore. The payment schedule of the shares are ₹900 on application, first call of ₹450, and the second and final call of ₹450.