Adani Enterprises Limited has announced the conversion of over 13.77 crore partly paid-up equity shares from 50% to 75% paid-up status following the receipt of first call money as part of its ongoing rights issue process.

Rights Issue Committee Approves Share Conversion

The Rights Issue Committee of the Board of Directors approved the conversion at its meeting held on February 2, 2026. This decision came after the company received the first call money on the rights equity shares from eligible shareholders.

The conversion details are presented below:

Rights Issue Process Continuation

This conversion represents a significant milestone in the company's rights issue process. The company had previously communicated with stock exchanges through letters dated December 17, 2025, December 27, 2025, and January 2, 2026, regarding the first call on partly paid-up equity shares.

The converted shares now bear the ISIN IN9423A01048, providing them with a distinct identification for trading and settlement purposes. The premium component has increased from ₹ 899.50 to ₹ 1,349.25, reflecting the additional call money received from shareholders.

Regulatory Communication

Adani Enterprises has formally notified both BSE Limited and the National Stock Exchange of India Limited about this conversion through an official communication dated February 4, 2026. The company trades under scrip code 512599 on BSE and ADANIENT on NSE.

Company Secretary and Joint President (Legal) Jatin Jalundhwala signed the official communication, requesting the stock exchanges to take this information on record. The formal letter was addressed to both exchanges from the company's registered office at Adani Corporate House, Shantigram, Ahmedabad. This conversion demonstrates the company's systematic approach to managing its rights issue process and maintaining transparency with regulatory authorities and shareholders.

Adani Enterprises Limited has officially filed its quarterly deviation statement for Q3FY26 with BSE Limited and National Stock Exchange of India Limited on February 3, 2026, confirming no deviation or variation in the utilization of rights issue proceeds from the stated objectives. Company Secretary & Joint President (Legal) Jatin Jalundhwala submitted the formal statement in compliance with SEBI Regulation 32 and related circular requirements.

Rights Issue Fund Utilization and Compliance

The rights issue, completed on December 11, 2025, involved partly paid-up equity shares with a total planned value of Rs. 24,930.30 crore. During Q3FY26, the company received Rs. 12,465.15 crore and utilized Rs. 8,097.56 crore according to the stated objectives in the Letter of Offer dated November 12, 2025.

Regulatory Filing Details and Monitoring Agency Confirmation

CARE Ratings Limited, serving as the appointed monitoring agency, confirmed that all fund utilization aligned with the disclosures in the offer document. The formal deviation statement submitted to both stock exchanges confirms that during the quarter ended December 31, 2025, there was no deviation or variation in fund utilization from the objects stated in the Letter of Offer.

Fund Allocation Breakdown and Implementation Status

The detailed breakdown shows Rs. 5,034.38 crore was utilized for repayment of outstanding borrowings and perpetual debt instruments of the company and its subsidiary Adani Airport Holdings Limited. General corporate purposes consumed Rs. 3,045.18 crore, while issue expenses accounted for Rs. 18.00 crore.

Audit Committee Review and Regulatory Compliance

The deviation statement, duly reviewed by the company's Audit Committee, received no comments, indicating satisfactory compliance with stated objectives. The rights equity shares were issued on a partly paid-up basis with Rs. 900 per share received on application, representing 50% of the issue price. The company confirmed that the entire money raised during Q3FY26 has been utilized for objects as stated in the Letter of Offer dated November 12, 2025.