Description

BSE announces trading of Rights Entitlements (REs) for Adani Enterprises Limited from November 25 to December 5, 2025, with Rights Issue opening November 25 to December 10, 2025.

Summary

BSE has announced the commencement of trading in Rights Entitlements (REs) for renunciation of Adani Enterprises Limited effective November 25, 2025. The REs will be tradable from November 25 to December 5, 2025, while the Rights Issue itself will remain open from November 25 to December 10, 2025. Trading will be conducted on a T+1 rolling settlement basis, trade-for-trade, and exclusively in dematerialized form.

Key Points

  • Company: Adani Enterprises Limited
  • Scrip Code: 751059
  • Scrip ID: ADANI-RE
  • ISIN: INE423A20016
  • Market Lot: 1
  • Group: R
  • Settlement: T+1 Rolling Settlement on trade-for-trade basis
  • Trading Mode: Dematerialized form only
  • REs not subscribed or renounced before Issue Closing Date will lapse and be extinguished

Regulatory Changes

No regulatory changes. This is a procedural notice for trading of Rights Entitlements under existing framework.

Compliance Requirements

  • Trading Members must inform all clients about commencement of trading in REs, mentioning the ISIN (INE423A20016)
  • Trading Members must clarify that REs shall not be mistaken for ordinary shares
  • Contract notes/bills for purchase of REs must include a prominent disclaimer stating:
    • Purchase of REs only gives right to participate in ongoing Rights Issue by making application with requisite money OR renounce the REs before issue closes
    • REs neither subscribed nor renounced on or before Issue Closing Date shall lapse and be extinguished
  • Trading Members must refer to notice no. 20200305-21 dated March 5, 2020 and notice no. 20200518-34 dated May 18, 2020 for additional details

Important Dates

  • November 25, 2025: Rights Entitlements trading commences; Rights Issue opens
  • November 25 - December 5, 2025: Trading period for Renunciation of Rights Entitlements
  • December 5, 2025: Last date for renunciation of REs
  • December 10, 2025: Rights Issue closes; last date to subscribe
  • After December 10, 2025: Unsubscribed/unrenounced REs will lapse and be extinguished

Impact Assessment

Market Impact: Medium. Existing shareholders of Adani Enterprises Limited will have the opportunity to trade their Rights Entitlements if they do not wish to subscribe to the rights issue. This provides liquidity and price discovery for the rights.

Operational Impact: Trading Members need to ensure proper client communication and include required disclaimers in contract notes. The trade-for-trade settlement and demat-only requirement necessitates careful operational handling.

Investor Impact: Shareholders must decide whether to: (1) subscribe to the rights issue with application money, (2) renounce and sell their REs in the market between November 25-December 5, or (3) take no action and let REs lapse (resulting in dilution of their shareholding).

Impact Justification

Medium importance as it affects trading in Rights Entitlements for a major listed company. Impact limited to shareholders and those interested in participating in the rights issue.