Adani Enterprises Limited (AEL), the flagship agency of the Adani Group, has introduced the launch of its second public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs), following its debut NCD issue of ₹800 crore in September 2023, which was absolutely subscribed on the primary day.
The new issue opens on July 9, 2025, and can shut on July 22, 2025, with the opportunity of early closure or extension. The base measurement of the issue is ₹500 crore, with a inexperienced shoe choice to retain an extra ₹500 crore, aggregating up to ₹1,000 crore. The NCDs might be supplied in tenors of 24 months, 36 months, and 60 months, with quarterly, annual, and cumulative curiosity cost choices throughout eight collection.
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“The second public issuance of NCDs by AEL, further deepens our commitment to inclusive capital markets growth and retail participation in long-term infrastructure development. This new issuance follows the strong market response to AEL’s debut NCD offering, which witnessed capital appreciation for debt investors after a rating upgrade within six months, reflecting the Group’s consistent delivery and financial robustness,” mentioned Jugeshinder ‘Robbie’ Singh, Group CFO, Adani Group.
The proposed NCDs have been rated “Care AA-; Stable” and “(ICRA) AA- (Stable)”. CARE Ratings upgraded AEL’s credit standing on February 19, 2025, and reaffirmed it on June 18, 2025. ICRA assigned its score on March 28, 2025, and reaffirmed it on June 17, 2025. Instruments with these scores are thought of to have a excessive diploma of security for well timed servicing of economic obligations and carry very low credit score danger.
“As the incubator of India’s most critical energy and transport utility platforms including Adani Ports & SEZ, Adani Energy Solutions, Adani Power, and Adani Green Energy, AEL is now successfully scaling the next generation of infrastructure businesses across airports, roads, data centers, and the green hydrogen ecosystem. Each of these verticals is poised to play a transformative role in India’s journey toward a $5 trillion economy,” Mr. Singh added.
AEL said that it stays the one company (exterior of NBFCs) providing a listed debt product geared toward retail traders, creating a chance for particular person and non-institutional traders to have interaction in infrastructure improvement.
“With the recent rate cuts and the beginning of a softer interest rate cycle, the AEL NCD issue comes at an opportune time for investors seeking stable, fixed-income avenues. Offering competitive yields compared to similarly rated NCDs and fixed deposits, this public issue presents a valuable proposition for the investors,” the corporate mentioned in a press release.
The face worth of every NCD is ₹1,000, and the minimal software measurement is ₹10,000 (10 NCDs), with additional funding allowed in multiples of 1 NCD thereafter.
At least 75% of the online proceeds might be used for the prepayment or compensation of present debt, whereas the remaining 25% might be used for common company functions, it mentioned.
Nuvama Wealth Management Limited, Trust Investment Advisors Private Limited, and Tipsons Consultancy Services Private Limited are performing as Lead Managers to the Issue, the corporate mentioned.
