Adani Enterprises to raise 1,000 crore via NCDs

New Delhi,  : 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. The effective yield for the NCDs
ranges from 8.95 per cent to 9.30 per cent, depending on the maturity period, which
varies from 24 months to 60 months. 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.

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