(AEL), the flagship company of the Adani Group, on Tuesday approved a partly paid-up rights issue worth Rs 25,000 crore. In a filing to the exchanges, AEL said, "The Board has, inter alia, considered and approved the issuance of partly paid-up equity shares of face value Rs 1 each (‘Rights Equity Shares’) for an amount not exceeding Rs 25,000 crore by way of a rights issue to eligible equity shareholders as on the record date, to be determined and notified subsequently." Advertisement

The company added that the Rights Issue Committee of the Board will finalise specific terms such as issue price, rights entitlement ratio, record date, timing and payment terms in due course.

It further said the issue will be carried out in accordance with the Securities and Exchange Board of India (Issue

See Full Page