Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, has announced a plan to raise up to ₹25,000 crore through a partly paid-up rights issue. This will be one of India’s largest equity raises in 2025, aimed at strengthening the balance sheet and advancing growth across airports, green energy, digital infrastructure and road projects.
This move signals the group’s renewed re-entry into capital markets after a period of caution following the Hindenburg Research report in early 2023. That episode led to a sharp decline in group valuations and a temporary halt to its earlier ₹20,000 crore follow-on public offer. With investor confidence restored through stake sales to global investors and stock recovery, AEL is now revisiting its expansion plans.
The company stated that the proceeds will fuel its incubation model where emerging businesses are scaled and monetised with airports, data centres, roads, and the green hydrogen ecosystem now contributing 71% to the total EBITDA. In the first half of FY26, EBITDA from these incubating businesses rose to ₹5,470 crore, up 5% year-on-year.
AEL highlighted recent milestones such as the inauguration of Navi Mumbai International Airport and the completion of its seventh road project. The group also plans to invest $100 billion in infrastructure over the next five years. Chairman Gautam Adani reiterated the group’s focus on strategic diversification, digital platforms, and self-reliant infrastructure, while emphasising its partnership with Google to build India’s largest AI data centre campus in Visakhapatnam.
With fundraising plans underway, the entitlement and timeline for the rights issue will be announced soon.
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