Adani Enterprises increases QIP to ₹15,000 crore on robust investor response; stock edges higher
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Adani Enterprises shares saw volatile trading on Friday after the company launched its qualified institutional placement (QIP), with investors booking some profit following the recent rally. The Adani Group flagship opened the ₹10,000-crore share sale on July 2 at an issue price of ₹2,883 per share, a 9.28% discount to Thursday's closing price of ₹3,178.20 on the BSE.
Adani Enterprises shares fell as much as 2.26% to hit a low of ₹3,106.30 in early trade. Paring early losses, the stock was trading 0.6% higher at ₹3,197.50 at the time of reporting, with a market capitalisation of about ₹4.15 lakh crore.
The Adani group stock touched its fresh 52-week high of ₹3,229.50 in the previous session and has rebounded 84% from its 52-week low of ₹1,753.45 touched on March 30, 2026. The stock has gained 42% so far in 2026 and is up 27% over the past one year.
Increases QIP size to ₹15,000 crore
According to reports, Adani Enterprises has increased the QIP size to ₹15,000 crore from the initial ₹10,000 crore after receiving strong interest from institutional investors. The issue reportedly attracted bids worth around ₹38,000 crore, or 3.8 times the base issue size, making it one of the strongest QIP responses in recent years.
At the base issue size, the company planned to issue around 34.7 million equity shares.
The proceeds from the QIP will be used to fund capital expenditure across Adani Enterprises' incubation businesses, repay debt and meet general corporate purposes, including funding inorganic growth opportunities through acquisitions and investments.
The fundraise follows the company's ₹25,000-crore rights issue completed earlier this year and is expected to support its planned FY27 capital expenditure programme of around ₹35,000 crore. Investments will be directed towards airport expansion, AI-ready data centres, a polyvinyl chloride (PVC) plant, new energy businesses and other infrastructure projects. A portion of the proceeds may also be used to reduce debt at its solar, airport and copper businesses and meet concession fee obligations for road projects.
Separately, Adani Enterprises informed exchanges on Thursday that it has entered into a 50:50 joint venture with International Resources Holding (IRH), an Abu Dhabi-based natural resources investment platform backed by IHC Group, to develop a $11.5 billion (around ₹1.08 lakh crore) integrated greenfield aluminium project in Odisha.
The project will include a 4 million metric tonnes per annum (MMTPA) alumina refinery, a 2 MMTPA aluminium smelter, a 4,000 MW captive power plant and a 1 MMTPA downstream manufacturing park, creating an integrated aluminium value chain.
The investment will be executed in two phases, with Phase I involving an investment of around ₹66,000 crore and Phase II requiring about ₹44,000 crore. Once operational, the project is expected to create nearly 53,500 jobs, including about 35,000 during construction and 18,500 in mining, refining, aluminium production and downstream manufacturing, while also generating indirect employment across logistics, engineering, maintenance and ancillary industries.
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