Adani Enterprises launches ₹24,930 crore rights issue
after close1 source ↓written by the desknot a recommendation
- rights issue
- ₹24,930 crore
- rights issue
- 25 Nov 2023
- to the current
- 21% discount
- of debt
- ₹18,698 crore
- for corporate needs
- ₹6,208 crore
Adani Enterprises has initiated a ₹24,930 crore rights issue on 25 Nov 2023, one of the largest in recent years. The issue is priced at a 21% discount to the current share price, with proceeds aimed at repaying ₹18,698 crore of debt and funding ₹6,208 crore for corporate needs.
This move allows existing shareholders to subscribe or trade their rights entitlement. Given the stock's -7% YTD performance, this rights issue presents a strategic opportunity for investors to reassess their positions.
Not investment advice. For informational purposes only.