Apart from the base size of ₹500 crore, the issue also has a green shoe option to raise another ₹500 crore for the Adani Group flagship company that houses all the new businesses. The issue opened for subscription on Wednesday, and is scheduled to remain open until July 22.
This is the second instance when the flagship company of the Adani Group is raising funds through the domestic bond market.
Adani Enterprises’ ₹500-crore NCD issue witnessed strong retail interest, being oversubscribed three times on its first day. The company intends to utilize at least 75% of the funds raised for debt repayment, offering an effective yield of up to 9.30%.
In 2024, the company had raised ₹800 crore through the local market, and that issue was also subscribed on the first day itself.
At least 75% of the proceeds from this fund raising would be used for prepayment or repayment of the company’s debt, with the rest to be used for general corporate purposes, Adani Enterprises had said earlier. These debt instruments will offer an effective yield of up to 9.30%, and have a maximum tenor of up to 60 months.
The NCDs have a face value of ₹1,000 each, and each application will have a minimum of 10 NCDs. Nuvama Wealth Management, Trust Investment Advisors and Tipsons Consultancy Services are the lead managers to the issue. Adani Enterprises’ net external debt rose to ₹49,306 crore at the end of March 2025, up from ₹30,966 crore a year ago, while net debt to Ebitda ratio rose to 2.9 times from 2.3 times in the same period.
