Adani Enterprises stock edges up today, but slips over two days as Rs 24,930-cr rights issue opens at discount

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26 Aug, 2025 12:21

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Adani Enterprises shares edged up 0.5 percent to Rs 2,345 on Wednesday, but the stock remains under pressure after falling 2.9 percent on Tuesday as the company’s Rs 24,930-crore rights issue opened at a 25 percent discount to market price. The shares are down 2.2 percent over the past two sessions and 5 percent across five days.

The rights issue, priced at Rs 1,800 per partly paid-up share, opened on Tuesday, implying a discount of around 25 percent from the then prevailing market price. The issue will remain open for 16 days -- from November 25 to December 10 -- giving eligible shareholders the opportunity to subscribe at a significantly reduced cost.

Adani Enterprises is offering 13.85 crore partly paid-up equity shares, with an upfront payment requirement of Rs 900 per share and the remaining Rs 900 payable through two call payments of Rs 450 each. The Rs 598.75 gap between the offer price and the last traded price is expected to drive investor interest as the company seeks to broaden capital access for its shareholders. Eligible shareholders as of November 17 will receive three rights shares for every 25 fully paid-up shares held.

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The full rights cycle follows the prescribed regulatory timeline: rights entitlements were credited on November 18, on-market renunciation will end on December 5, and the issue will close on December 10. Allotment and demat credit are scheduled for December 11 and 12, respectively, with listing expected on December 16.

At the current price, Adani Enterprises carries a market capitalisation of over Rs 3 lakh crore. The stock is down 5 percent over the past five sessions. Year-to-date, it has declined 5.4 percent, sharply underperforming the Nifty 50’s, which has gained 9.5 percent gain in 2025.

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