Ahmedabad: Adani Enterprises Limited (AEL), the flagship company of the Adani Group and one of India’s largest listed business incubators, has announced the launch of its second public issue of secured, rated, listed redeemable non-convertible debentures (NCD) with a total issue size of up to ₹1,000 crore.
The Adani Enterprises NCD issue opens on Wednesday, July 9, 2025, and will close on Tuesday, July 22, 2025, with allotment on a first-come, first-served basis.
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The Adani Enterprises NCD issue offers effective annual yields of up to 9.30%, making it an attractive fixed-income investment option amidst a softening interest rate environment.
The NCDs are rated ‘AA-’ with a Stable Outlook by both ICRA Limited and CARE Ratings Limited, indicating a high degree of safety for timely servicing of financial obligations.
“This NCD issuance reflects our continued commitment to deepening India’s capital markets and enabling retail investor participation in long-term infrastructure creation,” said Jugeshinder ‘Robbie’ Singh, Group CFO, Adani Group.
Following the strong response to AEL’s ₹800 crore debut NCD issue in September 2024 – which was fully subscribed on day one – this new issuance will further support AEL’s role in developing India’s next-generation infrastructure across airports, roads, green hydrogen, and data centers.
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Key Details of the Adani Enterprises NCD Issue:
- Issue Size: ₹500 crore base issue with a green shoe option to retain over-subscription up to ₹500 crore, totaling ₹1,000 crore
- Coupon Rate: Up to 9.30% per annum based on series and tenure
- Tenors: 24, 36, and 60 months with quarterly, annual, and cumulative interest options
- Listing: Proposed on BSE and NSE
- Minimum Investment: ₹10,000 (10 NCDs of ₹1,000 each)
- Use of Proceeds: At least 75% to be used for repayment/prepayment of existing debt; remainder for general corporate purposes
This issue is notable as Adani Enterprises is the only non-NBFC corporate currently offering a listed debt product for retail investors, opening up a valuable investment avenue in India’s infrastructure growth story.
The NCDs will be available across eight series, allowing investors to select from various tenors and payment modes (quarterly, annual, cumulative) to match their portfolio preferences.
Lead managers to the issue include Nuvama Wealth Management Limited, Trust Investment Advisors Private Limited, and Tipsons Consultancy Services Private Limited.
