Adani Enterprises’ Rs 25k crore rights offer gets nod

MUMBAI: The board of directors of Adani Enterprises (AEL), the flagship of the Ahmedabad-based Adani group, on Tuesday evening gave its nod for a rights offer to mobilise up to Rs 25,000 crore. For every 25 AEL shares held by its shareholders on the record date (Nov 17), they will have the rights to subscribe to three more equity shares of the company at a per-share price of Rs 1,800, the company disclosed to the bourses.At the rights offer price, AEL shareholders will get the shares at a steep discount of 24%. Also AEL shareholders will pay the full amount in instalments as the company will offer party-paid shares to its shareholders. AEL will disclose the detailed terms of the rights offer in its ‘Letter of Offer’, it told the bourses.