Adani Enterprises Ltd to raise Rs. 25000 crores through Rights Issue

The Board of directors of Adani Enterprises Ltd has considered and approved the issuance of partly paidup equity shares of the Company of face value of Rs. 1 each (the "Rights Equity Shares") for an amount not exceeding Rs. 25,000.00 crore (Rupees Twenty Five Thousand Crore) by way of a rights issue to the eligible equity shareholders of the Company, as on the record date (to be determined and notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to such regulatory and statutory approvals, as may be required under the applicable laws.

Further, for the purposes of giving effect to the rights issue, the specific and detailed terms in relation to the rights issue, including but not limited to the determination of the issue price, rights entitlement ratio, record date, timing of the rights issue and terms of payment will be determined by the Rights Issue Committee of the Board authorised in this regard and disclosed in due course.

Shares of Adani Enterprises Limited was last trading in BSE at Rs. 2418.90 as compared to the previous close of Rs. 2469.55. The total number of shares traded during the day was 93585 in over 8662 trades.

The stock hit an intraday high of Rs. 2488.55 and intraday low of 2391.25. The net turnover during the day was Rs. 228070551.00.

Source : Equity Bulls

Keywords

AdaniEnterprises INE423A01024 FundRaising RightsIssue