Adani NCD issue: Adani Enterprises launches Rs 1,000 crore NCD offer at 9.3% yield, aims to repay debt
The NCD issue, which opens for subscription on July 9 and closes on July 22, marks AEL's second such offering to the public. The base issue size is Rs 500 crore, with a green-shoe option to retain oversubscription up to an additional Rs 500 crore, PTI reported.
In a statement on Sunday, AEL said the NCDs will be available in tenors of 24, 36 and 60 months, and will offer a range of interest payment options including quarterly, annual, and cumulative structures across eight series.
Each NCD has a face value of Rs 1,000, with a minimum application requirement of Rs 10,000.
"This new issuance follows the strong market response to AEL's debut NCD offering, which witnessed capital appreciation for debt investors after a rating upgrade within six months — reflecting the group's consistent delivery and financial robustness," said Jugeshinder 'Robbie' Singh, Group CFO, Adani Group.
"As the incubator of India's most critical energy and transport utility platforms — including Adani Ports & SEZ, Adani Energy Solutions, Adani Power, and Adani Green Energy — AEL is successfully scaling the next generation of infrastructure businesses across airports, roads, data centres, and the green hydrogen ecosystem," Singh added.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
5 Books Warren Buffett Wants You to Read In 2025
Blinkist: Warren Buffett's Reading List
Undo
The proceeds from the issue will be used primarily for debt repayment, with at least 75% earmarked for prepayment or repayment of existing borrowings, and up to 25% for general corporate purposes, the company said.
AEL's latest offering comes amid a softening interest rate cycle, offering retail and non-institutional investors a relatively high fixed-income alternative. According to the company, the NCDs are priced competitively when compared with similarly rated debt and fixed deposits.
The NCDs have been rated 'CARE AA-; Stable' by CARE Ratings and '[ICRA]AA- (Stable)' by ICRA. CARE Ratings had first upgraded AEL's credit rating in February 2025 and reaffirmed it in June 2025, while ICRA assigned its rating in March and reaffirmed it last month. Instruments with this rating are considered to carry a high degree of safety regarding timely servicing of financial obligations and very low credit risk.
AEL's first public NCD issue in September 2024 — a Rs 800 crore offering — was fully subscribed on day one. The company claims it remains the only non-NBFC corporate offering listed debt products tailored for retail investors.
The lead managers for the issue are Nuvama Wealth Management Ltd, Trust Investment Advisors Pvt Ltd and Tipsons Consultancy Services Pvt Ltd.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Brics rejects EU's unilateral carbon border tax proposal
Brics Summit NEW DELHI: The Brics nations have rejected the European Union's proposed carbon border tax, or the carbon border adjustment mechanism (CBAM), calling it "unilateral, punitive and discriminatory protectionist measures", and said the move, being made "under the pretext of environmental concerns", would undermine their capacities to invest in just energy transitions and development priorities. India has long been opposed to such measures and even flagged its concerns during the recent free trade agreement talks with the EU. The concerns of the group of 11 nations, including Brazil, Russia, India, China and South Africa, over such trade barriers got reflected prominently in the 'Leaders' Framework Declaration on Climate Finance' adopted in Rio de Janeiro, Brazil, on Monday. The CBAM, to be implemented from next year, is a tool to impose border tax on carbon-intensive goods, such as iron & steel, aluminium and cement, that enter the 27 EU nations. Since it will impose a tariff burden on developing countries and impact their trade prospects, large exporters of such goods, including India and China, have consistently been opposing it. Condemning CBAM, the Brics nations declared that such measures are "not in line with international law", and said they oppose "unilateral protectionist measures which deliberately disrupt the global supply and production chains and distort competition". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Pieces of Clothing you should Ditch over 40 Learn More Undo Besides flagging the EU's trade barrier, the Brics nations expressed "serious concern" over pre-2020 mitigation gaps for developed countries and urged them to urgently bridge the gaps between what they promised and what they have achieved in terms of greenhouse gas emissions reduction. The group asked the rich nations to increase their 2030 climate action targets and achieve net-zero emissions significantly ahead of 2050, preferably by 2030. Referring to the critical issue of finance that is going to dominate the climate talks (CO) in Belem, Brazil, later this year, the Brics nations called upon developed countries to meet their earlier goal of jointly mobilising $100 billion per year through 2025 to address the needs of developing countries, and achieve the finance goal of $300 billion per year by 2035. "We note that substantial gaps remain in fulfilling the financing needs identified by developing countries," the declaration said. The developed countries were also urged to increase their collective provision of climate finance for adaptation, doubling the amount from 2019 levels by 2025 at the least.
Economic Times
an hour ago
- Economic Times
WeWork India's plans to raise up to Rs 4,000 crore through IPO moves ahead as Sebi lifts abeyance status
WeWork India Management plans to raise up to Rs 4,000 crore through an IPO comprising solely of an offer for sale. Promoters Embassy Buildcon LLP and investor 1 Ariel Way Tenant will offload a total of 4.37 crore shares. The issue follows SEBI lifting the abeyance on the draft offer document, with the IPO now pending final regulatory observations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads WeWork India Management Limited, a leading player in India's premium flexible workspace segment, plans to raise up to Rs 4,000 crore through an initial public offering (IPO), according to IPO, as detailed in the DOD, will be an offer for sale (OFS) comprising up to 43,753,952 equity shares. The OFS will see Embassy Buildcon LLP, the promoter selling shareholder, offload 33,458,659 shares, while 1 Ariel Way Tenant Limited, an investor selling shareholder, will offer 10,295,293 shares. No fresh issuance of shares is planned, meaning the proceeds will go directly to the selling shareholders.'The firm expects to raise anywhere between Rs 3000 crore and Rs 4000 crore and will start the road show soon considering the abeyance has been lifted,' said a person aware of the fund India did not reply to ET lifting of the abeyance status comes after a period of regulatory pause during which SEBI likely sought clarifications or additional disclosures. While SEBI did not provide detailed reasons for the earlier abeyance in the public domain, such actions are often undertaken when a company's draft documents require closer scrutiny due to operational complexity, sectoral challenges, or disclosure per the Securities and Exchange Board of India (SEBI)'s July 4, 2025 update, the company's Draft Offer Document (DOD) has been moved out of abeyance and is now pending final observations from the market regulator.'Now back on track, WeWork India awaits SEBI's final observations — the last step before it can proceed with the IPO launch and red herring prospectus filing,' said another as a joint venture between WeWork Global and Bengaluru-based Embassy Group, WeWork India has emerged as the largest co-working space operator by total revenue over the past three fiscal years, according to CBRE. WeWork India is currently operational across eight cities including Chennai, New Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Pune and Hyderabad. Its portfolio includes over 100,000 desks across its 68 flexible workspace centres in these global volatility in the flexible workspace sector — especially after the bankruptcy filing of its U.S.-based counterpart WeWork Inc. in 2023 — WeWork India has remained relatively resilient. The company operates independently from its global namesake, with local leadership and Embassy Group ownership playing a crucial role in its financial and operational to market experts, the timing of the IPO comes amid renewed investor interest in commercial real estate-linked business models, particularly those focused on asset-light operations and scalable tech-enabled platforms.'Demand for premium, agile office solutions continues to grow among startups and enterprises alike. The recently planned public listing could further institutionalize the flex space segment and set a benchmark for other operators eyeing scale and capital. With India's Grade-A office absorption rebounding this segment is well-positioned to tap into both occupier demand and investor interest,' said Sankey Prasad, chairman & managing director, Middle East & India at IPO is being managed by a consortium of leading investment banks. JM Financial , ICICI Securities, Jefferies India, Kotak Mahindra Capital, and 360 ONE WAM are acting as Book Running Lead Managers (BRLMs) to the issue. Their role will be instrumental in marketing the IPO to institutional and retail investors SEBI's final approval, WeWork India will file its Red Herring Prospectus (RHP) and launch a roadshow to engage with potential investors. Market sources suggest the IPO could hit the markets as early as September 2025, subject to market conditions and final regulatory successful, this IPO will mark one of the largest public issues in the co-working space sector in India. It will also serve as a test for investor appetite in flexible workspace operators, especially at a time when hybrid work models continue to shape the future of commercial real estate.
Time of India
an hour ago
- Time of India
What Microsoft said on shutting down its 25-year-old operations in Pakistan: We follow this ...
Microsoft recently shut down its operations in Pakistan after 25 years. The news of Microsoft closing down its operations in Pakistan was first revealed in a LinkedIn post by Jawwad Rehman, the founding head of Microsoft Pakistan. However, the move is said to be in the offing for sometime as only a liaison office with around five employees remained in Pakistan. Microsoft has now confirmed the complete closure of the company's operations in the country. The Redmond-based company told TechCrunch that it is changing its operational model in Pakistan. The report further added that Microsoft did not have any engineering resources in Pakistan. This is unlike Microsoft's operations in India and other growing markets. The closure comes amid broader company restructuring of Microsoft's operations globally. What Microsoft said on closing operations in Pakistan 'Our customer agreements and service will not be affected by this change,' a Microsoft spokesperson said in an emailed statement. It added that the company will now serve its customers through resellers and 'other closely located Microsoft offices.' the spokesperson added, 'We follow this model successfully in a number of other countries around the world. Our customers remain our top priority and can expect the same high level of service going forward.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The decision will reportedly impact the five Microsoft employees in Pakistan. These employees reportedly sold Azure and Office products in the country What Microsoft Pakistan country head said on the exit In a post titled 'End of an Era… Microsoft Pakistan', the company's first-ever country head in Pakistan Rehman wrote, "Today, I learned that Microsoft is officially closing its operations in Pakistan. The last few remaining employees were formally informed and just like that, an era ends... Exactly 25 years ago, in June 2000, I had the honor of launching and leading Microsoft Pakistan." He added, "Today's news forces reflection. This is more than a corporate exit. It's a sobering signal of the environment our country has created.. one where even global giants like Microsoft find it unsustainable to stay. It also reflects on what was done (or not done) with the strong foundation we left behind by the subsequent team and regional management of Microsoft." He further said that it is time for Pakistan to reflect on what has changed. "We must ask: What changed? What was lost? What happened to the values, leadership, and vision that once made it all possible?" he wrote. "Allah grants honor and opportunity to whom He wills.. and takes it away from those who lose sight of it. But if your work leaves behind impact, integrity & inspiration.. then know that Allah's favor was with you," the post added. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
