Adani Enterprises Announces Rights Issue Details and Q2 FY26 Financial Results

Adani Enterprises Limited has disclosed the results of its Rights Issue Committee meeting. The company has approved the issuance of 13,85,01,687 rights issue shares, each with a face value of Rs 1. This amounts to a total of Rs 24,930.30 crore, assuming full subscription and payment of call monies.

The payment for these shares will be structured in three instalments. Initially, Rs 900 per share will be payable (comprising Rs 0.50 face value and Rs 899.50 premium) upon application. Two further calls of Rs 450 each (Rs 0.25 face value and Rs 449.75 premium) are scheduled between January 12-27, 2026, and March 2-16, 2026.

Eligible shareholders will receive three rights equity shares for every 25 fully paid-up shares held as of November 17, 2025. The record date is set for November 17, 2025. The total number of equity shares will increase from 1,15,41,80,729 to 1,29,26,82,416 following the rights issue.

The company plans to issue partly paid-up equity shares at a total price of Rs 1,800 per share. This includes Rs 1 as face value and Rs 1,799 as premium. November 18, 2025 is the deadline for crediting rights entitlements; November 25 marks the opening date; December 5 is the deadline for on-market renunciation; and December 10 is the closure date with a possible extension of up to 30 days.

Adani Enterprises Ltd (AEL), the core company of the Adani Group, has released its financial results for the quarter ending September 30, 2025. The company reported a consolidated net profit of Rs 3,199 crore for Q2 FY26. This represents an increase of 84% compared to Rs 1,742 crore in the same period last year.

However, revenue from operations decreased by 6% to Rs 21,249 crore in the July-September quarter compared to Rs 22,608 crore in the previous year’s quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 18.2% to Rs 3,358 crore in Q2 FY26 from Rs 4,106 crore in Q2 FY25.

Market Outlook for Adani Enterprises

"The stock is attempting to base near ₹2450 after recent weakness," commented Riyank Arora from Mehta Equities Ltd. "Sustaining above this zone may invite a recovery towards ₹2550-₹2580. A breakdown below ₹2450 could open downside to ₹2380. RSI shows early signs of reversal; traders can accumulate on dips with a strict stop loss."

The EBITDA margin also saw a decline from 18.16% in Q2 FY25 to 15.8% in Q2 FY26. Despite these challenges in revenue and margins, the company has received in-principle approvals from both BSE and NSE for its rights issue.

Other terms related to fractional entitlements will be detailed in the Letter of Offer that Adani Enterprises plans to file soon.

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