Adani Enterprises Launches Rs 1,000 Crore NCD Issue with Up to 9.30% Yield
- Adani Enterprises is launching its second NCD public issue worth Rs 1,000 crore, offering interest rates of up to 9.30% per annum across 24, 36, and 60-month tenors.
- The issue opens on July 9 and closes on July 22, with a minimum investment of Rs 10,000; the NCDs are rated 'Care AA-; Stable' and '(ICRA) AA- (Stable)'.
- At least 75% of the proceeds will be used to repay existing debt, with the rest allocated to general corporate purposes; the NCDs will be listed on both BSE and NSE.
Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has announced its second public issuance of secured, rated, and listed redeemable non-convertible debentures (NCDs), aiming to raise up to Rs 1,000 crore. The public issue opens on July 9 and will remain open until July 22, with the option of early closure or extension.
The NCDs, which carry a face value of Rs 1,000 each, will be available for a minimum investment of Rs 10,000 (10 NCDs) and in multiples of one NCD thereafter. Investors can choose from tenors of 24 months, 36 months, and 60 months, with options for quarterly, annual, and cumulative interest payments across eight different series. The issue offers an attractive interest rate of up to 9.30% per annum.
Rated 'Care AA-; Stable' and '(ICRA) AA- (Stable)', the debentures are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This marks AEL as the only non-NBFC corporate to offer a listed debt instrument for retail investors, positioning the issue as a rare and strategic opportunity for individual and non-institutional investors seeking stable fixed-income avenues in a softening interest rate environment.
Of the total proceeds raised, a minimum of 75% will be allocated towards the prepayment or repayment of existing borrowings, while the remaining 25% may be used for general corporate purposes. The issue size includes a base amount of Rs 500 crore, with a green shoe option to retain oversubscription up to an additional Rs 500 crore, aggregating to Rs 1,000 crore.
This second public issuance follows AEL's successful debut NCD offering of Rs 800 crore in September 2024, which was fully subscribed on the very first day. Notably, the previous NCD issuance witnessed a rating upgrade within six months, resulting in capital appreciation for debt investors.
Commenting on the launch, Jugeshinder 'Robbie' Singh, Group CFO of Adani Group, said, "The second public issuance of NCDs by AEL further deepens our commitment to inclusive capital markets growth and retail participation in long-term infrastructure development. This issuance comes on the back of strong market response and is a reflection of the Group’s consistent delivery and financial robustness".
AEL, which acts as the incubator for several of India’s critical infrastructure and utility businesses including Adani Ports & SEZ, Adani Energy Solutions, Adani Power, and Adani Green Energy is now scaling its presence across emerging sectors such as airports, roads, data centres, and green hydrogen.
"Each of these verticals is poised to play a transformative role in India’s journey toward becoming a $5 trillion economy", Singh added.
The NCD issue aligns with AEL’s strategic vision to provide accessible investment options to retail investors while accelerating India’s infrastructure growth story through stable, long-term capital infusion.
