Adani Enterprises’ rights issue worth Rs 25,000 cr gets 108% subscription; GQG, top funds are participating

Adani Enterprises’ rights issue worth Rs 25,000 crore closed on Wednesday to strong demand, ending at a subscription of 108%. The company received equity bids of Rs 14.95 crore against an offer of Rs 13.85 crore, signaling strong interest from both promoters and public shareholders in one of India’s largest rights issues.The public section saw even stronger traction, with a registration of 130%. Public investors are bidding for shares of Rs 4.7 crore against the available Rs 3.6 crore. The promoters also fully subscribed to their rights, causing the issuance to cross the required threshold despite their already high 74% stake in the company.

Major institutions including GQG, SBI Mf, Aditya Birla, Kotak and a few others participated in the rights issue, while HNIs and retail investors also subscribed for shares, according to sources. The claim shares were priced at Rs 1,800 each, giving existing shareholders the option to buy three shares for every 25 shares they held. The structure required installment payments: Rs 900 at the time of application, followed by two calls of Rs 450 each. The first call is scheduled between January 12 and 27, 2026, and the second between March 2 and March 16, 2026.

The fundraising is aimed at strengthening the company’s balance sheet. Adani Enterprises said the proceeds will be used to reduce debt and support capital expenditure across its growing portfolio.

This includes repayments on shareholder loans and investments in airports, data centres, green hydrogen production, copper smelters, roads and PVC companies.

The rights issue comes at a time when Adani Enterprises continues to reposition itself after a year of major divestments. The company has exited Adani Wilmar, sold its 44% stake in phases and raised nearly Rs 15,750 crore in the process. It has also broadened its focus on modern infrastructure and industrial projects that it expects will drive long-term growth.

Also read: Rs 23,000 crore in a month: How an Asia fund became the silent winner in India’s hottest IPO series

AEL shares closed at Rs 2,213.9 on Wednesday, down 1.3% from the previous session and trading above the rights price, which helped support demand for the offer.

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