If you are an Adani Enterprises shareholder, circle today, November 17th, on your calendar. This is the "record date" for the company's massive ₹24,930 crore rights issue, and it’s the day that determines whether you get to participate.

In simple terms, a rights issue is a special invitation. The company is offering its existing, loyal shareholders the "right" to buy new shares, usually at a steep discount.

And this discount is a big one.

Adani is offering these new shares at ₹1,800 per share. On Friday, the stock closed at ₹2,368. This means eligible investors get to buy shares at a 24% discount to the market price. The entitlement ratio is set at 3 new shares for every 25 shares you held as of today.

But this isn't just a simple purchase. The most important detail for retail investors is that these are "partly paid-up" shares. This is a term that can be confusing, so let's break it down.

What Does "Partly Paid" Actually Mean?

Think of it as buying a product on EMI (Equated Monthly Instalment). You don't have to pay the full ₹1,800 all at once.

Instead, the company will ask for the money in "calls," or instalments. You might pay, for example, 50% of the price now (₹900 per share) to get the "partly paid" share. You will then be obligated to pay the remaining amount later, perhaps in one or two more calls over the next year, whenever the company decides it needs the cash.

This is fantastic for the company, as it gets to raise money in tranches as its projects develop. For you, the investor, it’s a double-edged sword, it's a lower upfront cost, but it's also a future financial commitment you must honor.

Why Are They Raising So Much Money?

Adani Enterprises is the Adani Group's "incubator," and it needs a lot of fuel to grow. This ₹24,930 crore (or roughly $3 billion) isn't for paying off old debt; it’s a war chest for growth.

The company has laid out a massive capital expenditure (capex) plan, committing to invest $15–$20 billion annually for the next five years. This money will be funneled directly into its most promising and capital-heavy ventures:

Airports: Expanding its footprint as India's largest private airport operator.

Copper: Building out its new copper and metals business.

New Energy: Doubling down on its massive green hydrogen and solar manufacturing.

So, Should You Apply?

This is the big question. Market experts are cautiously optimistic, but they all agree on one thing: this is a long-term, high-risk, high-reward bet.

If you are an existing shareholder who believes in the long-term vision of the Adani Group's infrastructure-building story, applying for the issue is a way to increase your holding at a significant discount and avoid having your stake in the company diluted.

If you are a short-term trader or someone with a low-risk appetite, the complexity of partly paid shares and the long-term nature of the investment might not be for you.

Either way, the clock starts now. If you held the shares at the end of today, the "right" to buy is yours. Whether you exercise it is up to you.