Adani Enterprises announces Rs 1,000 crore NCDs offering up to 9.30 pc, issue opens July 9

Hans India

4 days ago

Adani Enterprises Limited (AEL) on Sunday announced the launch of its second public issuance of secured, rated and listed redeemable, non-convertible debentures (NCD) worth Rs 1,000 crore.
The issue opens on July 9 and closes on July 22 (with an option of early closure or extension), offering up to 9.30 per cent per annum.
The NCDs have a face value of Rs 1,000 each. Each application will be for a minimum of 10 NCDs and in multiples of 1 NCD thereafter. The minimum application size would be Rs 10,000.
The NCDs offer competitive yields compared to similarly rated NCDs and fixed deposits and are proposed to be listed on the BSE and the NSE. The proposed NCDs have been rated "Care AA-; Stable" and "(ICRA) AA- (Stable)", according to the company.
AEL's first NCD issuance of Rs 800 crore, launched in September last year, was fully subscribed on the first day.
"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 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 now successfully scaling the next generation of infrastructure businesses across airports, roads, data centres, and the green hydrogen ecosystem, he added.
"Each of these verticals is poised to play a transformative role in India's journey toward a $5 trillion economy," Singh noted.
At least 75 per cent of the proceeds from the issuance will be utilised towards the prepayment or repayment, in full or in part, of the existing indebtedness availed by the company, and the balance (up to a maximum of 25 per cent) for general corporate purposes.
The NCDs are available in tenors of 24 months, 36 months, and 60 months with quarterly, annual and cumulative interest payment options across eight series, said the company.
The base size issue is Rs 500 crore, with an option to retain over-subscription up to an additional Rs 500 crore (Green Shoe Option), aggregating up to Rs 1,000 crore, according to the flagship company of the Adani Group and India's largest listed business incubators in terms of market capitalisation.
AEL is the only corporate (outside of NBFCs) offering a listed debt product for retail investors, thereby creating a rare opportunity for individual and non-institutional investors to participate in India's infrastructure growth story.
With the recent rate cuts and the beginning of a softer interest rate cycle, the AEL NCD issue comes at an opportune time for investors seeking stable, fixed-income avenues. Offering competitive yields compared to similarly rated NCDs and fixed deposits, this public issue presents a valuable proposition for investors.
CARE Ratings first upgraded the credit rating of AEL on February 19, 2025 and reaffirmed the rating on June 18.