Shares of Adani Enterprises Ltd . declined over 2% on Tuesday, November 4, in response to its September quarter results, and its fund raising announcement.

The board of Adani Enterprises has approved raising ₹25,000 crore through the issue of partly paid up equity shares of the company, through a rights issue.

The rights issue will be done for eligible shareholders, the record date for which will be determined and notified on a later date, Adani Enterprises said in a filing.

Adani Enterprises' board has approved the formation of a rights issue committee, which will determine other contours of the board, including the issue price, the entitlement ratio, record date, timing and the terms of the payment.

The flagship company of the Adani Group approved the fund raise along with its Sept

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