Adani Enterprises’ ₹1,000 cr NCD issue to open on July 9

AEL is the only corporate (outside of NBFCs) offering a listed debt product for retail investors.
| Photo Credit:
VIJAY SONEJI

Adani Enterprises Limited (AEL), the flagship company of the Adani Group, on Sunday announced the launch of its second public issuance of secured, rated, listed redeemable, non-convertible debentures (NCD) with an issue size of ₹1,000 crore. 

At least 75 per cent of the proceeds from the issuance will be utilised towards the prepayment or repayment, in full or in part, of the existing indebtedness availed by the company, and the balance — up to a maximum of 25 per cent — for general corporate purposes. AEL’s first NCD issuance of ₹800 crore, launched in September last year, was fully subscribed on the first day.

“The second public issuance of NCDs by AEL, further deepens our commitment to inclusive capital markets growth and retail participation in long-term infrastructure development. This new issuance follows the strong market response to AEL’s debut NCD offering, which witnessed capital appreciation for debt investors after a rating upgrade within six months, reflecting the Group’s consistent delivery and financial robustness,” said Jugeshinder ‘Robbie’ Singh, Group CFO, Adani Group.

AEL is the only corporate (outside of NBFCs) offering a listed debt product for retail investors, thereby creating a rare opportunity for individual and non-institutional investors to participate in India’s infrastructure growth story, stated the company in a release.

With the recent rate cuts and the beginning of a softer interest rate cycle, the AEL NCD issue comes at an opportune time for investors seeking stable, fixed-income avenues. Offering competitive yields compared to similarly rated NCDs and fixed deposits, this public issue presents a valuable proposition for the investors, it added.

The base size issue is ₹500 crore, with an option to retain over-subscription up to an additional ₹500 crore (greenshoe option) aggregating up to ₹1,000 crore, the company stated about the NCD with an effective yield of 9.3 per cent per annum.

The issue will open on July 9, and close on July 22, with an option of early closure or extension. The NCDs have a face value of ₹1000 each. Each application will be for a minimum of 10 NCDs and in multiples of 1 NCD thereafter. The minimum application size would be ₹10,000.

Published on July 6, 2025