The issue offers eight series of NCDs with tenors of 24 months, 36 months, and 60 months, providing investors a choice between annual, quarterly, and cumulative interest payment options. Coupon rates range from 8.48% to 8.90% per annum, depending on the series and tenor.
The issue opens for subscription on January 6 and closes on January 19. Proceeds from the issue are expected to be used in line with the company’s financing requirements, including refinancing and general corporate purposes, as disclosed in the offer document.
Adani Enterprises is launching a public issue of non-convertible debentures to raise up to one thousand crore rupees. The issue offers various tenors and interest payment options. This fundraising aims to meet the company’s financing needs, including refinancing and general corporate purposes. The debentures are rated CARE AA- and AA- (Stable) by respective agencies.
The issue comprises a base size of ₹500 crore with a green shoe option of an additional ₹500 crore, aggregating to ₹1,000 crore. The NCDs have a face value of ₹1,000 each and will be issued in a minimum application size of 10 NCDs, amounting to ₹10,000, and thereafter in multiples of one NCD.
Public bond issue, rated AA-, opens on January 6 offering coupons ranging from 8.48% to 8.90% and duration of 24 to 60 months
The NCDs have been rated CARE AA- with a stable outlook by CARE Ratings and AA- (Stable) by ICRA. The issue carries a security cover of 1.10 times. Trust Investment Advisors is acting as the lead manager to the issue.
For the 24-month tenor, the annual interest option carries a coupon of 8.60%. The 36-month series offers coupons of up to 8.75%, and the longest 60-month tenor offers coupons of up to 8.90%. Adani Enterprises is the flagship of the Adani Group. In fiscal 2025, the promoters infused ₹7,878 crore through unsecured loans to fund capital expenditure in airports, roads, and Australian mining operations. Outstanding promoter loans stood at ₹22,967 crore as of September 30, 2025. The company also raised ₹4,200 crore through a qualified institutional placement during the year. Separately, Adani Enterprises has announced a ₹24,930 crore rights issue, which will be received by March 2026, and largely earmarked for repaying promoter loans, with the remainder for growth capital.
