Adani Group Stock in Focus After Board Sets Record Date for ₹24,930 Cr Rights Issue

Synopsis: Adani Enterprises is in focus after finalising its Rs 24,930 crore rights issue and announcing February 13, 2026, as the record date for the final call. Strong Q3 FY26 performance, with 9% revenue growth and a sharp profit rise, alongside infrastructure expansion, supported investor sentiment.

The shares of this company, which has business interests in various economic areas such as mining, integrated resources management (IRM), infrastructure (such as airports, roads, rail/metro, water, data centres, solar manufacturing, agro and defence), had its shares in focus after the company fixed the record date for completion of its right issue.

With the market cap of Rs 2,56,436 crore, the shares of Adani Enterprises Ltd are trading at Rs 2,214 and are trading at a PE of 78.3, whereas its industry PE is at 72.88. The shares have given a return of 219% over the last 5 years. 

Right issue and its record date.

The record date has been announced by Adani Enterprises as the 13th of February, 2026, to decide who will be eligible to receive the second and final call of its ongoing rights issue. The shareholders holding partly paid-up equity shares shall pay Rs 450, representing 25% of the total amount of Rs 1,800. The payment window is set to be between the 2nd and the 16th of March, 2026, as approved by the Board earlier.

The total rights issue size amounts to approximately Rs 24,930 crore based on the issue size of 13,85,01,687 partly paid-up equity shares for the rights issue at an issue price of Rs 1,800 per share. This means the shareholders are required to pay the balance amount in calls, which also includes the latest final call of Rs 450 per share issued by the company for raising funds, thereby strengthening the equity base and the expansion plans of the company.

Earlier, the company had issued 13.85 crore partly paid-up equity shares through a rights issue, making this final call an important step towards the fully paid-up conversion. Once the final instalment is received, these shares would be fully paid up, which would further strengthen the equity base and improve the capital structure of the firm. The payment structure planned is in accordance with a staggered manner of raising capital.

Secondly, from a strategic perspective, the issue of rights shares implies that the company is attempting to raise capital to fuel its growth strategies. Overall, the above move is a disciplining factor for the company, as the final issue is a liquidity-boosting measure, which complies with the spirit of the earlier-announced fundraising exercise on the regulatory compliances of the SEBI listing regulation.

Financials

The revenue from operations for the company stood at Rs 24,820 crores in Q3 FY26 compared to Q3 FY25 revenue of Rs 22,848 crores, up by about 9 per cent YoY. Similarly, the net profit stood at Rs 5,727 crore in Q3 FY26, up compared to the Rs 229 crore profit in Q3 FY25.

Segment-wise performance

The company reported robust execution growth in Adani Group’s diversified infrastructure portfolio. In the green energy segment, Adani New Industries reported rapid scaling up, where module sales have crossed 1 GW every quarter, with solar module sales increasing by 40% year-on-year.

The wind segment also reported increased growth by launching their 3.3 MW WTG offering and delivering 12 sets in the quarter. AdaniConnex reported operationalising the Pune data centre phase I, totalling 9.6 MW, and 4.8 MW in Hyderabad, indicating a steady increase in high-demand data infrastructure.

In transport and logistics as well, the growth was seen in balanced measure. As such, the Navi Mumbai International Airport was opened with a capacity of 20 million passengers, while the airport in Guwahati saw the opening of a new integrated terminal building as well as expansion of the network through the addition of seven routes and nine flights. On the roadside, there was the opening of two new HAM projects, increasing the total to nine operational projects.

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