Adani Enterprises to raise Rs 25,000 cr via rights issue – News Air Insight

Adani Enterprises Ltd said its board on Tuesday approved aproposal to raise up to ₹25,000 crore through a rights issue of partly paid-up equity shares.

The company also reported an 84% year-on-year increase in consolidated net profit to ₹3,199 crore for the September quarter, mainly due to a one-time exceptional gain from the sale of a stake in Adani Wilmar Ltd.

It is likely to use the proceeds from the proposed rights issue for paying down debt and for capital expenditure, majorly in the airport business, people in the know said. The rights issue will be made to eligible shareholders on a record date to be announced later, Adani Enterprises said in a stock exchange filing.

If the company raises the entire ₹25,000 crore, this would be one of the largest fundraisings by the Adani Group flagship. It called off a follow-on offer to raise ₹20,000 crore in 2023, after American short-seller Hindenburg Research made allegations against the ports-to-energy conglomerate in a report. The company raised $500 million last financial year through a public sale of shares to institutional investors.

Second-quarter performance
Profit before exceptional items and tax dropped 66% to ₹814 crore in the quarter ended September 30 from ₹2,409 crore a year earlier, due to weaker earnings from the trading and roads businesses. The company recorded an exceptional gain of ₹3,583 crore following Adani Commodities LLP’s sale of a 10.42% stake in AWL Agri Business Ltd (formerly Adani Wilmer), which reduced its holding from 30.42% to 20%.Adani Enterprises had net external debt of ₹60,070 crore as on September 30, up from ₹49,306 crore in March 2025. Net external debt to Ebitda was 3.9, compared with 2.9 in March.Revenue from operations fell 6% to ₹21,249 crore, reflecting lower trading volumes and prices in its Integrated Resources Management (IRM) and commercial mining segments.

Sequentially, profit after tax rose nearly four-and-a-half times from ₹734 crore in the first quarter of FY26, while revenue slipped 3.2% from ₹21,961 crore.

Consolidated Ebitda decreased 10% YoY to ₹3,902 crore. In its airports business under Adani Airports Holdings Ltd, revenue rose 43% year-on-year to ₹3,167 crore in Q2.

“Our strong performance across airports, data centres and roads underscores the momentum of our core infrastructure portfolio,” chairman Gautam Adani said.