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Adani Enterprises Launches ₹1,000 Crore NCD Issue Offering Up to 9.3% Yield

Opening July 9, the AA-rated secured debentures will allocate at least 75% of proceeds to prepay existing debt, with a minimum subscription of ₹10,000 for retail investors.

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Overview

  • Retail investors can subscribe with a minimum ₹10,000 application as Adani Enterprises remains the only non-NBFC corporate to offer listed debt to individuals.
  • The issue features a ₹500 crore base and a ₹500 crore greenshoe option with ₹1,000 face-value debentures sold in lots of 10 across 24-, 36- and 60-month tenors.
  • The secured instruments carry an effective yield of up to 9.30% and will be listed on the National Stock Exchange and BSE.
  • Both ICRA and CARE Ratings reaffirmed AA- (Stable) ratings in June, underscoring the company’s credit strength.
  • Opening July 9 and closing July 22 on a first-come-first-served basis, at least 75% of proceeds will prepay existing borrowings and up to 25% will fund general corporate purposes.