Adani Enterprises has launched a massive ₹24,930-crore rights issue, giving existing shareholders the option to buy new shares at a discount. The rights shares are priced at ₹1,800 each, which is cheaper than the current market price, and the offer opened this week. Investors can apply by paying half the amount now and the remaining in two instalments later.
The company’s stock showed slight gains today but has fallen over the past two sessions as the market adjusts to the discounted issue price. Despite this, analysts say the fundraising move will help Adani Enterprises reduce its debt and strengthen its finances.
Brokerage Ventura Securities has given the stock a ‘Buy’ rating, expecting up to 43% upside. The firm has set a target price of ₹3,433, saying that the rights issue will ease pressure on the company’s balance sheet and support its long-term expansion plans.
The funds raised will be used for multiple projects, including airports, data centres, green energy, roads, and other infrastructure businesses. Analysts believe the fresh capital will give the company more stability and improve investor confidence.
Also Read: HDFC AMC shares fall on bonus issue