Adani Enterprises to Launch ₹1,000 Crore NCD Issue

Adani Enterprises is set to raise up to ₹1,000 crore through a public issue of non-convertible debentures (NCDs). The issue opens on January 6 and offers multiple tenure and interest payout options, making it attractive for conservative investors looking for steady returns.

Adani Enterprises to Raise ₹1,000 Crore via NCD Issue

Adani Enterprises Limited is preparing to raise up to ₹1,000 crore through a public issuance of non-convertible debentures (NCDs). According to sources, the issue will open for subscription on January 6 and close on January 19. The company has described the move as part of its broader strategy to meet financing requirements.

Base Issue of ₹500 Crore, Green Shoe Option up to ₹1,000 Crore

The debt issue will have a base size of ₹500 crore, with an additional green shoe option of ₹500 crore, taking the total size to ₹1,000 crore. As per the offer document, the proceeds will be used for refinancing and general corporate purposes.

Eight NCD Series with Multiple Investment Options

A total of eight different NCD series will be offered under this issue. Investors can choose from tenures of 24, 36, and 60 months, with options for annual, quarterly, and cumulative interest payouts.
The interest rates will vary depending on the series and tenure.

• 24-month NCDs: Up to 8.60% annual coupon

• 36-month NCDs: Up to 8.75%

• 60-month NCDs: Up to 8.90% annually

Minimum Investment and Credit Ratings

Each NCD will have a face value of ₹1,000. The minimum application size is 10 NCDs, meaning investors must invest at least ₹10,000, with further investments allowed in multiples of one NCD.

The NCDs have been rated:

• CARE AA- (Stable Outlook) by CARE Ratings

• AA- (Stable) by ICRA

The issue is secured with a 1.10x security cover, offering additional comfort to investors. Trust Investment Advisors is acting as the lead manager.

Funding Strategy of Adani Group’s Flagship Company

Adani Enterprises, the flagship company of the Adani Group, plays a key role in major infrastructure and energy projects. In FY2025, promoters provided unsecured loans worth ₹7,878 crore to support capital expenditure across airports, road projects, and mining operations in Australia.

As of September 30, 2025, outstanding promoter loans stood at ₹22,967 crore. The company also raised ₹4,200 crore through a Qualified Institutional Placement (QIP) during the year.

Rights Issue to Reduce Debt

Apart from the NCD issue, Adani Enterprises has announced a rights issue worth ₹24,930 crore, expected to be completed by March 2026. A significant portion of the proceeds will be used to repay promoter loans, while the remaining amount will fund growth initiatives — strengthening the company’s balance sheet further.