Adani Enterprises to Raise Up to Rs 1,000 Crore Through New NCD Issue Offering Up to 9.30% Yield

Adani Enterprises Limited has announced the launch of its second public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs), aiming to raise up to Rs 1,000 crore. The issue will open for subscription on July 9, 2025, and is scheduled to close on July 22, 2025, although it may close earlier or be extended.

The NCDs will offer an effective yield of up to 9.30% per annum and have been rated “AA-” with a stable outlook by both ICRA Limited and CARE Ratings Limited. According to the company, these ratings reflect a high degree of safety regarding the timely servicing of financial obligations and carry very low credit risk.

Adani Enterprises, the flagship firm of the Adani Group, said this offering follows the strong response it received for its first NCD issuance in September last year, which was fully subscribed on the opening day. Group CFO Jugeshinder ‘Robbie’ Singh noted that the new issuance demonstrates the company’s commitment to fostering broader retail participation in long-term infrastructure investments.

He also emphasised that Adani Enterprises continues to incubate and scale critical infrastructure businesses across sectors such as airports, roads, data centres, and green hydrogen.

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The NCD issue comes at a time when interest rates are softening, which the company believes makes this offering attractive for investors seeking stable fixed-income options. The company highlighted that it remains the only corporate outside the NBFC sector offering a listed debt product to retail investors.

The NCDs will be listed on the BSE and NSE and will be allocated on a first-come, first-served basis. They will be available in tenors of 24 months, 36 months, and 60 months, offering quarterly, annual, and cumulative interest payment options across eight series.

The minimum application size is Rs 10,000, requiring investors to apply for at least 10 NCDs of Rs 1,000 each. At least 75% of the funds raised will be used to repay or prepay existing borrowings, while the remainder will go towards general corporate purposes.

Nuvama Wealth Management, Trust Investment Advisors, and Tipsons Consultancy Services are acting as lead managers for the issue.