The company said, “authorised the opening of the Issue today, i.e. July 2, 2026,” and “Approved the floor price of ₹3,034.68 per Equity Share for the Issue”, and noted that a discount of up to 5% may be offered on the floor price at its discretion.
Adani Enterprises said the issue price will be decided in consultation with the book-running lead managers. The company has appointed SBI Capital Markets, Jefferies India, ICICI Securities, and IIFL Capital Services as book-running lead managers for the issue.
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It further said, “The Issue price will be determined by the Company in consultation with the BRLMs,” and confirmed that the preliminary placement document has been filed with BSE and NSE.
In April this year, the company had approved a proposal to raise up to ₹15,000 crore through the issuance of equity shares or other eligible securities, subject to shareholder approval at its Annual General Meeting scheduled for June 24, 2026.
The company said the fundraising may be undertaken through one or more permissible routes, including private placement, qualified institutions placement, preferential issue, or any other method allowed under applicable law.
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The proposed issuance will involve equity shares with a face value of ₹1 each and/or other eligible securities, or a combination of both, for an aggregate amount not exceeding ₹15,000 crore or its equivalent.
Last month, Morgan Stanley had initiated coverage on Adani Enterprises Ltd. with an ‘Overweight’ rating and a price target of ₹3,638 per share, implying a potential upside of 23% from current levels.
In its note, the brokerage described Adani Enterprises as India’s leading business incubator, offering exposure to several long-term growth themes, including transport infrastructure through airports and roads, digital infrastructure via data centres, energy transition through its new energy business, and the country’s self-reliance push across sectors such as copper, PVC, mining and defence.
Morgan Stanley expects the company’s EBITDA to nearly triple by FY30, supported by growth in its airports, new energy and primary industries businesses.
Key growth catalysts for FY27 include the commissioning of the Navi Mumbai International Airport (NMIA), progress on the Ganga Expressway project, ramp-up of its copper plant and expansion of its new energy capacity.
By FY30, the brokerage expects Adani Enterprises’ airport portfolio to handle 145 million passengers annually, while its data centre business is projected to build a 2 GW portfolio through the joint venture route.
Shares of Adani Enterprises Ltd ended at ₹3,178.20, up by ₹34.95, or 1.11%, on the BSE.
