Adani Enterprises to Launch ₹1,000 Crore Non-Convertible Debenture Sale on July 9
Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has announced the launch of its second public issuance of secured, rated, listed, redeemable, non-convertible debentures (NCDs) aimed at retail investors. The issue, which opens on July 9, 2025, and closes on July 22, 2025, carries a total issue size of ₹1,000 crore, including a base size of ₹500 crore with an option to retain over-subscription up to an additional ₹500 crore.
The NCDs, each with a face value of ₹1,000, are available for investment with a minimum application size of ₹10,000 (10 NCDs). The tenors for the NCDs offer options for 24 months, 36 months, and 60 months. The yield on these NCDs is competitive, offering an effective yield of up to **9.30% per annum**, which is comparable to other similarly rated instruments and fixed deposits.
The creditworthiness of the AEL NCDs is reflected in their ratings. Both CARE Ratings Limited and ICRA Limited have rated the NCDs with an "AA-" rating and a Stable outlook, indicating strong credit quality. The listed NCDs will be traded on the BSE and NSE stock exchanges, ensuring liquidity for investors.
The subscription categories for the AEL NCD issue are QIB (10%), NII (30%), HNI (30%), and Retail (remaining allocation). At least 75% of the proceeds from the issuance will be used towards the prepayment or repayment of existing indebtedness of AEL. The balance, up to a maximum of 25%, will be used for general corporate purposes.
This issuance follows the successful debut NCD offering by AEL in September 2024, which was fully subscribed on the first day. The first issue also saw capital appreciation after its rating was upgraded, indicating favorable market reception for AEL's debt instruments.
In the current market context, the share price of Adani Enterprises is trading marginally lower, possibly reflecting normal market fluctuations ahead of the NCD opening.
Jugeshinder 'Robbie' Singh, Group CFO of Adani Group, stated that the second NCD issuance deepens their commitment to inclusive capital markets growth and retail participation in long-term infrastructure development. This issuance presents a valuable proposition for investors seeking stable, fixed-income avenues in the current market.
By offering a listed debt product for retail investors, AEL is providing a rare opportunity for individual and non-institutional investors to participate in India's infrastructure growth story. The AEL NCD issue comes at an opportune time for investors seeking stable, fixed-income avenues.
- Adani Enterprises Limited (AEL) is offering a second public issuance of Non-Convertible Debentures (NCDs), designed for retail investors, with a total issue size of ₹1,000 crore.
- The NCDs, rated 'AA-' by both CARE Ratings Limited and ICRA Limited, offer competitive yields up to 9.30% per annum, making them comparable to other fixed deposits and similarly rated instruments.
- The listed NCDs will provide liquidity to investors, as they'll be traded on the BSE and NSE stock exchanges.
- AEL plans to use at least 75% of the proceeds from the issuance towards prepayment or repayment of existing indebtedness, with the remaining 25% allocated for general corporate purposes.
- This NCD issuance by AEL offers a unique opportunity for individual and non-institutional investors to invest in India's infrastructure growth story, providing a stable, fixed-income avenue in the current market.
