Description
NSE announces trading of Rights Entitlements (REs) for Adani Enterprises Limited Rights Issue from November 25 to December 05, 2025, with trading in Trade to Trade segment in compulsory demat mode.
Summary
National Stock Exchange of India Limited has notified the commencement of trading in Rights Entitlements (REs) of Adani Enterprises Limited. The REs will be admitted to dealings on the Capital Market segment with effect from November 25, 2025. Trading members must inform clients about RE trading and include disclaimers in contract notes explaining that purchasing REs only provides the right to participate in the rights issue.
Key Points
- Symbol: ADANI-RE (ISIN: INE423A20016)
- Display Name: Adani Enterprises Limited-RE
- Series: BE (Trade to Trade segment)
- Total Rights Entitlements: 138,273,566
- Market Lot: 1
- Trading Mode: Compulsory demat for all investors
- Trading Members must inform clients about RE commencement with ISIN details
- Contract notes must include disclaimer about RE nature and subscription requirements
- REs that are neither subscribed nor renounced will lapse after Issue Closing Date
Regulatory Changes
No new regulatory changes. This circular implements existing regulations:
- Regulation 3.1.1 of NSE (Capital Market) Trading Regulations Part A for admission of securities
- Regulation 2.5.5 of NSE (Capital Market) Trading Regulations Part A for lot size specification
Compliance Requirements
For Trading Members:
- Inform all clients about commencement of trading in REs mentioning the ISIN (INE423A20016)
- Clarify to clients that REs shall not be mistaken for ordinary shares of Adani Enterprises Limited
- Include prominent disclaimer in contract notes/bills containing purchase of REs stating:
- Purchase of REs only gives right to participate in the ongoing Rights Issue
- Participation requires application with requisite application money
- REs can be renounced before issue closes
- Un-subscribed and un-renounced REs will lapse and be extinguished after Issue Closing Date
Trading Parameters:
- Use designated security code ADANI-RE for identification
- Trading must be in specified lot size (1 unit)
- Compulsory demat mode for all transactions
Important Dates
- Circular Effective Date: November 25, 2025
- RE Trading Commencement: November 25, 2025
- Renunciation Trading Period: November 25, 2025 to December 05, 2025
- RE Suspension Date: December 08, 2025
- Issue Closing Date: December 05, 2025 (last date for subscription/renunciation)
Impact Assessment
Market Impact:
- Provides liquidity to Rights Entitlement holders of Adani Enterprises Limited
- Enables shareholders to trade their rights in the market if they choose not to subscribe
- Limited impact period (11 trading days for renunciation)
Investor Impact:
- Shareholders can monetize their rights entitlements through market trading
- Buyers of REs can participate in the rights issue without being existing shareholders
- Clear timeline for decision-making on subscription or renunciation
- Risk of lapsing if no action taken by December 05, 2025
Operational Impact:
- Trading members need to ensure proper client communication and disclaimer inclusion
- Trade to Trade settlement with compulsory demat adds operational safeguards
- Market lot of 1 provides flexibility for small investors
Impact Justification
Important for Adani Enterprises shareholders and investors interested in participating in the rights issue; affects trading operations for a specific period with clear guidelines on REs trading and renunciation.