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Adani Enterprises Limited (AEL) successfully raised INR 1,000 crore through its latest public issue of non convertible debentures, which was fully subscribed in around 45 minutes. The base portion of INR 500 crore was taken up in just 10 minutes, reflecting strong demand from retail, institutional, and non institutional investors. The bonds, carrying yields up to 8.90 per cent, are rated by CARE Ratings and ICRA and will be listed on both BSE and NSE. The proceeds are intended for debt repayment and general corporate purposes, reinforcing investor confidence in the company.
Adani Enterprises Limited (AEL) raised INR 1,000 crore through a public issue of non convertible debentures (NCDs), which was fully subscribed in approximately 45 minutes, according to exchange data. The base issue of INR 500 crore was taken up within about 10 minutes, and the greenshoe option of an additional INR 500 crore also saw quick subscription, taking total allotment past the target in less than an hour. Advertisement
The offer, which opened earlier this week and will remain open until mid January, provides investors with bonds of 24, 36, and 60 months maturity. Annual coupon rates reach up to 8.90 per cent, with interest payouts available on a quarterly, annual, or cumulative basis. Both CARE Ratings and ICRA have assigned a AA rating with a stable outlook, ensuring competitive and secure investment opportunities for both retail and non institutional investors.
Listing of the NCDs on BSE and NSE is planned to facilitate secondary market trading post allotment. In comparison, AEL's previous public NCD offering of similar size took several hours to be fully subscribed, highlighting even stronger investor appetite this time. The proceeds from this issue are primarily intended for repayment of existing debt, strengthening the company's balance sheet, while a portion will be used for general corporate purposes.
AEL's ongoing expansion into infrastructure projects continues alongside its financing plans. The company has recently advanced key projects, including the Navi Mumbai International Airport, major road initiatives, and data centre developments. Lead managers for this issue include Nuvama Wealth Management, Trust Investment Advisors, and Tipsons Consultancy Services. Investor interest across categories indicates confidence in the company's credit quality and its growth trajectory.
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