Adani Enterprises board approves raising ₹25,000 crore through a rights issue

Shares of Adani Enterprises Ltd

. declined over 2% on Tuesday, November 4, in response to its September quarter results, and its fund raising announcement.

The board of Adani Enterprises has approved raising ₹25,000 crore through the issue of partly paid up equity shares of the company, through a rights issue.

The rights issue will be done for eligible shareholders, the record date for which will be determined and notified on a later date, Adani Enterprises said in a filing.

Adani Enterprises' board has approved the formation of a rights issue committee, which will determine other contours of the board, including the issue price, the entitlement ratio, record date, timing and the terms of the payment.

The flagship company of the Adani Group approved the fund raise along with its September quarter results.

For the September quarter, Adani Enterprises reported a 84% jump in its net profit to ₹3,199 crore from ₹1,742 crore last quarter. The profitability was aided by a one-time gain of ₹3,583 crore, through the Adani Wilmar Offer For Sale (OFS).

Revenue for the quarter declined by 6% from last year to ₹21,248.5 crore from ₹22,608 crore last year.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined by 23% from last year to ₹3,407 crore, while margins narrowed to 16% from 19.7% last year, contracting 370 basis points.

Shares of Adani Enterprises are down 2.7% after the earnings announcement at ₹2,401.4. The stock is down 6% so far in 2025.