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News18
6 days ago
- Business
- News18
Adani Enterprises To Raise Rs 1,000 Crore Via NCDs; Issue Opens From July 9
Last Updated: Adani Enterprises Limited (AEL) has announced the launch of its second public issuance of non-convertible debentures (NCDs). Adani Enterprises Share Price: Adani Enterprises Limited (AEL) has announced the launch of its second public issue of non-convertible debentures (NCDs), aiming to raise up to Rs 1,000 crore. The base issue size stands at Rs 500 crore, with an option to retain oversubscription up to an additional Rs 500 crore under the green shoe option. The issue will open on July 9, 2025, and close on July 22, 2025. Each NCD will have a face value of Rs 1,000. Investors can apply for a minimum of 10 NCDs, amounting to Rs 10,000, and in multiples of one NCD thereafter. The debentures are proposed to be listed on both the BSE and the National Stock Exchange (NSE), providing liquidity for investors. The proceeds from the NCD issue will be primarily used for debt reduction. AEL has earmarked at least 75% of the net proceeds for prepayment or repayment of existing borrowings. The remaining 25% will be allocated toward general corporate purposes. This structured allocation highlights the company's intent to strengthen its balance sheet while funding strategic initiatives. The NCDs will be offered in tenors of 24 months, 36 months, and 60 months, with interest payment options available on a quarterly, annual, or cumulative basis. There are eight series in total, catering to varied investor preferences. The effective yield ranges between 8.95% and 9.30%, depending on the selected maturity period. AEL had earlier launched its first NCD issue in September 2024, raising Rs 800 crore. That issuance was fully subscribed on the opening day. Commenting on the new offering, Jugeshinder Singh, Group CFO of the Adani Group, said the strong investor response to their debut issue was followed by a credit rating upgrade, which led to capital appreciation for debt investors. He added that AEL is scaling up the next generation of infrastructure businesses across airports, roads, data centres, and the green hydrogen ecosystem. The NCDs have been assigned a rating of 'CARE AA-; Stable" by CARE Ratings, which was upgraded on February 19, 2025, and reaffirmed on June 18, 2025. ICRA has also rated the instruments '\[ICRA]AA- (Stable)", initially assigned on March 28, 2025, and reaffirmed on June 17, 2025. The lead managers for the issue are Nuvama Wealth Management Limited, Trust Investment Advisors Private Limited, and Tipsons Consultancy Services Private Limited. Their role will be crucial in managing subscriptions and ensuring the success of the issue. First Published:
Time of India
7 days ago
- Business
- Time of India
Adani Enterprises to Raise Rs 1,000 crore via NCDs
Adani Enterprises will tap the domestic bond market to raise ₹1,000 crore through non-convertible debentures (NCDs), the flagship company of the Adani Group said on Sunday. These debt instruments will offer an effective yield of up to 9.30% and have a maximum tenor of up to 60 months. The issue will open for subscription from July 9 till July 22. The NCDs have been rated 'AA-' with a 'stable' outlook by ICRA and CARE Ratings . At least 75% of the proceeds from the fundraising will be used for prepayment or repayment of the company's debt, with the rest to be used for general corporate purposes, the company said in a statement. Its net external debt increased to ₹49,306 crore at the end of March, up from ₹30,966 crore a year ago, while net debt to EBITDA (earnings before interest, taxes, depreciation and amortisation) ratio went up to 2.9 times from 2.3 times during this period. This is the second time that Adani Enterprises Ltd (AEL) is raising funds from the domestic bond market. Last year, its maiden fundraising of ₹800 crore was subscribed on the first day itself. "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," said group chief financial officer Jugeshinder Singh. "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." The base size for the fundraising is ₹500 crore, with an option to raise another ₹500 crore through a green shoe option. The NCDs have a face value of ₹1,000 each, and each application will have a minimum of 10 NCDs. Nuvama Wealth Management , Trust Investment Advisors and Tipsons Consultancy Services are the lead managers to the issue.
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Business Standard
7 days ago
- Business
- Business Standard
Adani Enterprises to raise ₹1,000 crore via NCDs; issue opens 9 July
Adani Enterprises Limited (AEL) has announced the launch of its second public issuance of non-convertible debentures (NCDs). The base issue size is ₹500 crore, with an option to retain oversubscription of up to ₹500 crore under the green shoe option, taking the total issue size to ₹1,000 crore. The issue will open on 9 July 2025 and close on 22 July 2025. Each NCD has a face value of ₹1,000. Investors can apply for a minimum of 10 NCDs and in multiples of 1 NCD thereafter, setting the minimum application amount at ₹10,000. The NCDs are proposed to be listed on both the BSE and the National Stock Exchange (NSE). AEL will use a minimum of 75 per cent of the net proceeds for prepayment or repayment of existing borrowings. The remaining amount, up to 25 per cent, will be allocated for general corporate purposes. The NCDs are available in tenors of 24 months, 36 months, and 60 months, with interest payment options on a quarterly, annual, or cumulative basis across eight different series. AEL's first issuance of NCDs in September 2024 amounted to ₹800 crore and was fully subscribed on the opening day. '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,' said Jugeshinder Singh, Group CFO, Adani Group. 'AEL is now successfully scaling the next generation of infrastructure businesses across airports, roads, data centres, and the green hydrogen ecosystem,' he said. The proposed NCDs have been rated 'Care AA-; Stable' and '[ICRA]AA- (Stable)'. CARE Ratings had upgraded AEL's credit rating on 19 February 2025 and reaffirmed it on 18 June 2025. ICRA assigned its rating on 28 March 2025 and reaffirmed it on 17 June 2025.
India.com
12-06-2025
- Business
- India.com
Gautam Adani's Rs 8555350000000 largest ever plan in India for…, the money will come from….
Adani Group is planning a capital expenditure of $100 billion. It is the largest capital expenditure in India till now. The investment will be made over the next six years. Adani Group's Chief Financial Officer (CFO), Jugeshinder Singh told NDTV Profit, 'We are not talking about acquisitions here; this is all greenfield on-ground capex…' He added, 'We want to take our investment to Rs 1.5-1.6 lakh crore every year (from Rs 1.1-1.2 lakh crore last year).'' The capital expenditure plan mainly focuses on three sectors like the energy business with 83-85% of the total investment. According to the CFO, around 10% of the expenditure will be given to construction and materials and 6-7% will go for mining and metals businesses. The majority of the energy investment will be utilized for expansion of renewable energy capacity and storage. As per the company's investment presentation, Adani Green Energy had an operational capacity of 14.2 GW as of March 2025 and Adani Power's capacity was 16.54 GW. To fund its annual capex plan of Rs 1.5-1.6 lakh crore, Adani Group plans to get Rs 80,000 crore from internal cash flows, Rs 15,000 crore via settlement payments, and Rs 12,000-14,000 crore from the profit generated by its EPC (Engineering, Procurement, and Construction) business. The group also has an external funding reserve of Rs 40,000-50,000 crore. Adani Group repays around Rs 24,000 crore in debt annually, with a net debt addition of Rs 25,000 crore.
