01-07-2025
Adani Enterprises to sell bonds with 2-5 year maturity, aims to raise Rs 1,000 crore: Report
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Billionaire Gautam Adani 's flagship firm plans to raise up to Rs 1,000 crore ($116.77 million) through a retail bond issue opening for public subscription next week, two sources aware of the development told Reuters on Tuesday. Adani Enterprises will sell two-year, three-year and five-year bonds through the issue, which will remain open for subscription from July 9 to July 22, the sources company will pay an annual coupon of 8.95% on its two-year bonds, 9.15% on three-year bonds and 9.30% on five-year bonds, and will also have an option to defer interest payment to maturity, the sources investors opting for quarterly payouts, the coupon will be 8.85% on three-year and 9.00% on five-year notes, they Enterprises did not reply to a Reuters request for marks Adani Enterprises' second retail bond sale within a year. In September 2024, it raised 8 billion rupees via its debut public issue, offering two, three, and five-year bonds at coupons of 9.25%, 9.65%, and 9.90% respectively, indicating a 30-60 basis point drop in rates across tenors this proposed issue, rated AA- by Icra and Care Ratings , includes a greenshoe option of 5 billion rupees. Nuvama Wealth Management Trust Investment Advisors and Tip Sons Consultancy Services will be the lead managers for the bond sale, the company month, the company raised $750 million from a group of international banks. In November, U.S. authorities indicted Gautam Adani and his nephew, Sagar Adani, over alleged bribery and misleading of investors in connection with U.S. Adani denied any wrongdoing last week, telling shareholders that no individual from the group had been charged under the U.S. Foreign Corrupt Practices Group and its 13 offshore investors have also been facing an investigation by the Securities and Exchange Board of India (SEBI) since Hindenburg Research in 2023 alleged the group's improper use of tax havens. The group has consistently denied any wrongdoing.($1 = 85.6375 Indian rupees)
