Adani Enterprises to Raise Rs 1,000 Crore Through Second NCD Issue

Adani Enterprises Limited (AEL), the main company of the Adani Group, has announced its second public issue of secured Non-Convertible Debentures (NCDs) to raise Rs 1,000 crore. The issue will open on July 9 and close on July 22, though it may end sooner or get extended.

Each NCD is priced at Rs 1,000, with a minimum investment of Rs 10,000. Investors can pick from three time periods - 24, 36, or 60 months - and get interest payments quarterly, yearly, or at maturity. The interest rate goes up to 9.30% per year.

These NCDs have been rated 'Care AA-; Stable' and '(ICRA) AA (Stable)' and will be listed on the BSE and NSE. This makes AEL the only non-finance company in India offering such listed debt instruments to retail investors, giving people a rare chance to earn steady returns in a market where interest rates are softening.

AEL plans to use at least 75% of the money raised to pay back old loans, while the rest will be used for general business needs. The issue includes a base size of Rs 500 crore with an option to take in another Rs 500 crore if there is more demand. This follows AEL’s first NCD issue of Rs 800 crore in September 2024, which was fully subscribed on the first day and even saw a rating upgrade later, benefiting investors.

Jugeshinder ‘Robbie’ Singh, Group CFO of Adani Group, said this second issue shows their focus on growing retail participation in India’s capital markets and supporting long-term infrastructure projects. He added that AEL is growing in areas like airports, roads, data centres, and green hydrogen, which are key to India’s goal of becoming a $5 trillion economy.

Through this NCD issue, AEL aims to give everyday investors more chances to be part of India’s growth story while ensuring stable funds for building the country’s future.