Adani Flagship Aims to Raise $3 Billion to Fund Capital Spending

Adani Enterprises Ltd. is planning to raise as much as 250 billion rupees ($2.8 billion) through a rights issue, people familiar with the matter said, as it seeks to invest in capital intensive businesses like its airports venture.

The flagship firm of Gautam Adani’s port-to-power conglomerate told exchanges on Thursday that its board will meet Nov. 4 to consider a fundraising plan through various modes, including a rights issue. The filing did not give any other details.

Gautam Adani, chairman of Adani Group

Photographer: Indranil Aditya/Bloomberg

Proceeds from the rights offering, meant for existing shareholders, will be used to boost its growth-stage businesses especially scale up the ...