Adani Enterprises to Roll Out ₹1,000 Crore NCD Issue with Up to 9.30% Returns
Adani’s upcoming second public NCD issuance kicks off on July 9, featuring eight customizable series, maturities extending up to five years, and investor-friendly options.
Adani Enterprises Launches Second Public NCD Offering
Adani Enterprises Limited (AEL), a core pillar of the Adani Group’s diversified portfolio, is set to roll out its second round of publicly available non-convertible debentures (NCDs). Scheduled to open for subscription on July 9, 2025, and close on July 22, 2025, this debt instrument aims to raise up to ₹1,000 crore, providing investors with secure and attractive fixed-income opportunities.
The issue has a base size of ₹500 crore, and an additional green shoe option of ₹500 crore, allowing the company to retain excess demand and expand the total mobilization to ₹1,000 crore.
Investment Options: Tenure, Yield, and Minimum Application
Each NCD is priced at a face value of ₹1,000, and interested investors must apply for a minimum of 10 debentures, setting the entry amount at ₹10,000. Further investments can be made in multiples of one NCD thereafter, offering flexibility to both retail and high-net-worth individuals.
The offering spans three tenure options—24 months, 36 months, and 60 months—and is available under eight distinct series. These series offer different interest payment schedules including quarterly, annual, and cumulative payout options. Depending on the series chosen, the effective yield ranges from 8.95% to 9.30%, making the offering one of the more attractive debt products currently in the market.
Purpose of Fundraising: Strengthening Financial Health
Adani Enterprises plans to utilize at least 75% of the funds raised to prepay or repay existing loans, which is a strategic step toward reducing debt and improving its credit profile. The remaining 25% of the net proceeds will be directed towards general corporate requirements, allowing the company to support operational needs and drive growth across its business verticals.
By channeling a majority of the capital toward debt reduction, AEL signals its commitment to strengthening its financial structure and maintaining long-term sustainability.
Credit Ratings and Past Performance Boost Investor Confidence
The upcoming NCD issue has received a “AA- Stable” rating from both CARE Ratings and ICRA, indicating a strong capacity for timely debt servicing and low credit risk. These ratings were either upgraded or reaffirmed earlier in 2025, following a consistent improvement in the company’s financial and operational performance.
In September 2024, Adani Enterprises entered the non-convertible debenture space for the first time, securing ₹800 crore through its inaugural issuance. The offering witnessed exceptional demand, reaching full subscription within just the first day of its launch. Furthermore, within just six months, the debentures from the first issue saw capital appreciation, driven by a credit rating upgrade—a rare occurrence in India’s corporate debt market.
Exchange Listing and Liquidity Benefits
The NCDs will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), providing investors with the opportunity to buy or sell the securities in the secondary market. This listing ensures liquidity for those who may wish to exit their investment before maturity, making the product more appealing for investors looking for both fixed returns and market flexibility.
Building the Infrastructure of Tomorrow
Adani Enterprises is actively scaling up its investments in infrastructure sectors of strategic importance, such as airports, data centers, roads, and the green hydrogen ecosystem. The proceeds from the NCD issuance will indirectly support these projects by improving AEL’s debt servicing capacity and freeing up resources for forward-looking investments.
This approach aligns with the group’s broader vision to build future-ready infrastructure that supports India’s growth aspirations while maintaining financial prudence.
Final Thoughts
With its second public issue of NCDs, Adani Enterprises is offering a well-structured, yield-generating opportunity for investors seeking safe and consistent income. The diversified options across interest payment frequencies and tenures, coupled with competitive yields and strong credit ratings, make this offering particularly appealing in the current investment landscape.
Given the overwhelming success of its first NCD issue and continued focus on infrastructure growth, AEL’s new offering is likely to attract significant interest from both retail and institutional investors. As the company aims to reduce debt and maintain financial agility, this issue serves not just as a capital-raising tool but as a strategic move toward long-term sustainability.
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