Description

Trading in Rights Entitlements (REs) for renunciation of Adani Enterprises Limited permitted from November 25, 2025 to December 5, 2025, with Rights Issue open until December 10, 2025.

Summary

BSE has announced that trading in Rights Entitlements (REs) for renunciation of Adani Enterprises Limited will be permitted on the exchange from November 25, 2025 to December 5, 2025. The Rights Issue will open on November 25, 2025 and close on December 10, 2025. The REs will be traded in dematerialized form only on T+1 rolling settlement basis with trade-for-trade settlement. Scrip code is 751059, Scrip ID is ADANI-RE, and ISIN is INE423A20016.

Key Points

  • Rights Entitlements trading period: November 25, 2025 to December 5, 2025
  • Rights Issue period: November 25, 2025 to December 10, 2025
  • Scrip Code: 751059
  • Scrip ID: ADANI-RE
  • ISIN: INE423A20016
  • Market Lot: 1
  • Group: R
  • Settlement: T+1 Rolling Settlement basis
  • Trading: Trade-for-trade basis
  • Form: Dematerialized form only
  • REs that are neither subscribed nor renounced will lapse and be extinguished after Issue Closing Date

Regulatory Changes

No new regulatory changes introduced. This circular implements existing framework for trading of Rights Entitlements for renunciation as per previous notices dated March 5, 2020 (notice no-20200305-21) and May 18, 2020 (notice no-20200518-34).

Compliance Requirements

  • Trading members must inform all clients about commencement of trading in REs, mentioning the ISIN of the RE
  • Trading members must clarify that REs shall not be mistaken for ordinary shares of the company
  • Trading members must include a prominent disclaimer in contract notes/bills for RE purchases informing clients that:
    • Purchase of REs only gives right to participate in the ongoing Rights Issue by making application with requisite application money, or to renounce the REs before issue closes
    • REs which are neither subscribed with requisite application money 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 further details

Important Dates

  • November 25, 2025: Rights Entitlements trading for renunciation begins; Rights Issue opens
  • December 5, 2025: Rights Entitlements trading for renunciation ends
  • December 10, 2025: Rights Issue closes; unsubscribed/unrenounced REs lapse and are extinguished

Impact Assessment

Market Impact: Medium - affects trading activity for shareholders of Adani Enterprises Limited who hold rights entitlements and wish to either participate in the rights issue or trade their entitlements.

Operational Impact: Medium - trading members need to ensure proper client communication regarding the nature of REs, include mandatory disclaimers in contract notes, and handle T+1 settlement on trade-for-trade basis for dematerialized REs only.

Investor Impact: Shareholders must decide whether to subscribe to the rights issue with requisite payment, renounce their rights through trading during the specified period, or allow them to lapse. The relatively short trading window (9 trading days) requires timely decision-making.

Impact Justification

Medium importance as it relates to trading of rights entitlements for a major listed company. Impact is medium as it affects shareholders and traders of Adani Enterprises who wish to participate in or renounce rights issue.