Adani Enterprises Approves Early Closure Of Rs 1,000-Crore Bond Sale After Solid Response
The NCDs have been rated 'AA-' investment grade with a 'stable' outlook by ICRA and CARE Ratings.
Adani Enterprises Ltd. on Wednesday approved an early closure of the Rs 1,000 crore public issue of non-convertible debentures (NCDs) after receiving solid bids.
The bond sale was lapped up within 45 minutes of opening on Tuesday, according to stock exchange data. The base issue of Rs 500 crore was snapped in just 10 minutes and subscription crossed Rs 1,000 crore — after including the greenshoe option — in under an hour.
The NCD issued was scheduled to close on Jan. 19.
Adani Enterprises launched its Rs 1,000-crore public issue of secured, rated, listed, redeemable, NCDs on Jan. 6. The bonds have been rated 'AA-' investment grade with a 'stable' outlook by ICRA and CARE Ratings.
The NCDs have a face value of Rs 1,000 each and had a minimum application size of Rs 10,000.
The bonds were available in tenors of 24 months, 36 months and 60 months with quarterly, annual and cumulative interest payment options across eight series. Adani Enterprises offered an effective yield of up to 8.9% per annum, higher than similarly rated NCDs and fixed deposits.
At least 75% of the proceeds from the issuance will be utilised towards the repayment of existing debt and the balance for general corporate purposes.
AEL's second NCD issuance of Rs 1,000 crore, launched in July 2025, was fully subscribed in three hours on the first day.
"This third NCD issuance marks another step in our journey to broaden access to India’s capital markets and give retail investors a stake in long-term infrastructure growth. The strong response to our previous offerings reinforces trust in our strategy and financial discipline, and we aim to build on that momentum,” said Jugeshinder ‘Robbie’ Singh, group CFO at the Adani Group.
Nuvama Wealth Management Ltd. Trust Investment Advisors Pvt. and Tipsons Consultancy Services Pvt. were the lead managers to the issue.
Shares of Adani Enterprises settled 0.7% higher at Rs 2274.50 on the BSE, ahead of the announcement, compared to a 0.1% decline in the benchmark Sensex.
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