Adani Enterprises Clears Rs 1,000 Crore Fundraise Via NCDs
The proposed public issue comprises NCDs of face value Rs 1,000 each, amounting to Rs 500 crore, with an option to retain over-subscription up to Rs 500 crore.
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Adani Enterprises Ltd. has approved a fundraise through non-convertible debentures aggregating up to Rs 1,000 crore, including an over-subscription option, as per an exchange filing on Wednesday.
The proposed public issue comprises NCDs of face value Rs 1,000 each, amounting to Rs 500 crore, with an option to retain over-subscription up to Rs 500 crore, taking the total issue size to Rs 1,000 crore.
The latest debt raise comes soon after the company successfully concluded one of India’s largest-ever rights issues, giving additional financial flexibility to the Adani Group’s flagship incubator.
Adani Enterprises’ Rs 25,000-crore rights issue closed on a strong note with 108% oversubscription. The issue received bids for 14.95 crore shares against 13.85 crore shares on offer, according to BSE data.
The issue opened on Nov. 25 and was closely tracked due to the group’s 74% promoter holding, which made broad-based public participation crucial. Rights shares were priced at Rs 1,800 apiece, with eligible shareholders entitled to three rights shares for every 25 equity shares held.
Promoters fully subscribed to their entitlement, while the public portion was oversubscribed by 30%, drawing 4.7 crore share bids against 3.6 crore on offer, as per reports. Large institutions such as GQG Partners, domestic mutual funds, high-net-worth individuals, and retail investors also participated.
The payment structure required Rs 900 per share upfront, with two subsequent calls of Rs 450 each, scheduled for Jan 12–27, 2026, and Mar 2–16, 2026.
Proceeds from the equity raise are earmarked for debt reduction and capital expenditure, including repayment of shareholder loans. Adani Enterprises’ gross debt was Rs 92,065 crore as of September.
The Adani Group has guided for annual capital expenditure of $15–20 billion over the next five years. The company has said that equity infusions and internal cash generation help support asset-backed growth while enabling effective debt utilisation.
Adani Enterprises continues to expand across airports, data centres, green hydrogen manufacturing, copper smelting, roads and PVC manufacturing. Over the past year, it exited its agri-business joint venture Adani Wilmar Ltd, selling its 44% stake in phases and raising nearly Rs 15,750 crore.
