Adani Enterprises Limited has issued a final reminder notice for the payment of First and Second & Final Call money on partly paid-up equity shares. The deadline for shareholders to clear the outstanding dues is Wednesday, November 4, 2026.

The Rights Issue Committee of the Board approved the issuance of these reminder notices at its meeting held on September 30, 2026. This action targets holders who have not yet paid the call money pursuant to the rights issue launched in November 2025.

Payment Details and Deadlines

Shareholders holding partly paid-up rights equity shares must pay the outstanding amount to avoid forfeiture. The total due amount comprises two calls, each of ₹450 per share, bringing the total payable to ₹900 per share for those who have missed both deadlines.

The payment window opens on Monday, October 5, 2026, and closes on Wednesday, November 4, 2026. Payments must be made via cheque or demand draft drawn in favor of specific Adani Enterprises accounts. Cash payments are not accepted.

Consequences of Non-Payment

Failure to pay the full due amount by the specified date will result in strict penalties under the Companies Act, 2013 and the company's Articles of Association. The company explicitly stated that there will be no further calls regarding this issue.

• Forfeiture: Partly paid-up equity shares, including any amount already paid, are liable to be forfeited.
• Dividend Deduction: The company reserves the right to deduct all outstanding call money from any future dividends payable to the shareholder.
• No Partial Payment: Partial payments will be treated as non-payment. However, the Board may consider converting a proportionate number of shares to fully paid-up status if a lower amount is paid, though this is discretionary.

Administrative Instructions

The reminder notices are being sent electronically to shareholders with registered email addresses as of September 25, 2026. Physical copies will be dispatched only to those without registered emails or those who specifically requested hard copies.

Payments can be deposited at designated State Bank of India branches across major cities including Ahmedabad, Mumbai, Delhi, Bengaluru, and Chennai. Shareholders in locations without collection centers must send their payments via registered post to the Registrar and Transfer Agent, MUFG Intime India Private Limited, ensuring receipt by November 4, 2026.

Upon successful payment, the rights equity shares will be credited to shareholder accounts under the existing ISIN and are estimated to be available for trading within three weeks from the last date of payment.

Adani Enterprises Limited saw its promoter and promoter group holding increase to 71.97% following a series of market purchases and inter-se transfers. The aggregate stake rose by 1.46% to reach 97,42,34,554 equity shares.

The disclosures were filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transactions involved multiple entities within the Adani group and individual promoters, spanning from June 2024 to September 2026.

Transaction Details

The increase in stake was driven by open market purchases by several group entities and individuals, alongside internal restructuring via inter-se transfers. Key transactions include:

• Emerging Market Investment FZCO purchased 87,00,000 equity shares (0.64%) between June 13, 2024, and June 27, 2024.
• Hibiscus Trade and Investment Ltd acquired 20,00,000 equity shares (0.17%) between August 12, 2024, and August 27, 2024.
• Adani Infra (India) Limited bought 90,00,000 equity shares (0.66%) as on March 24, 2026.
• Individual promoters Jeet Gautam Adani, Karan Gautam Adani, Pranav Vinod Adani, and Sagar Rajeshbhai Adani each purchased 10 equity shares in late May and early June 2026.

Additionally, an inter-se transfer of 86,00,000 equity shares (0.64%) occurred from Infinite Trade and Investment Ltd to Adani Properties Private Limited and Adani Infra (India) Limited on September 25, 2026.

Holding Structure Shift

The table below summarizes the changes in the promoter group's holding before and after these transactions:

The total number of shares acquired by the acquirers amounted to 1,97,00,040, representing 1.46% of the total voting capital. The seller in the inter-se transfer, Infinite Trade and Investment Ltd, reduced its holding from 2,72,19,584 shares to 1,86,19,584 shares.

What the Numbers Show

The data reveals a consolidation of ownership within specific promoter entities rather than a broad-based buyback or external acquisition. While the overall promoter stake increased, a significant portion of this movement was internal; the inter-se transfer of 86,00,000 shares from Infinite Trade and Investment Ltd to Adani Properties Private Limited and Adani Infra (India) Limited accounted for nearly half of the total net addition in shares held by the acquirer group. This suggests a strategic reallocation of assets among group companies rather than purely new capital infusion into the company's equity base. The minor purchases of 10 shares each by individual family members appear symbolic, likely for compliance or record-keeping purposes, given their negligible impact on the percentage holding.