Adani Enterprises' Rs 1,000 crore NCD bond issue fully subscribed in 45 minutes

Adani Enterprises Limited’s (AEL) Rs 1,000 crore public issue of non-convertible debentures (NCDs) was fully subscribed within 45 minutes of opening, according to stock exchange data.

The base issue size of Rs 500 crore was subscribed in just 10 minutes and the green shoe option of an additional Rs 500 crore. The total subscriptions crossed Rs 1,000 crore in under an hour.

The issue opened on Tuesday (January 6) and is scheduled to close on January 19, 2026. Allotments will be made on a first-come, first-served basis, according to the company's statement.

Bonds offer up to 8.90 pc

The NCDs offer an effective yield of up to 8.90 per cent per annum, according to the company. The debentures are rated ‘AA-’ with a stable outlook by ICRA and CARE Ratings.

The bonds are proposed to be listed on both the BSE and NSE. They are available in 24, 36 and 60-month tenors, with quarterly, annual and cumulative interest payment options across eight different series.

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The issue provides retail investors an opportunity to invest in infrastructure-linked debt with returns competitive with similarly rated bonds and fixed deposits.

Funds to cut debt

At least 75 per cent of the proceeds from the issue will be used to repay existing debt, while the remaining amount may be deployed for general corporate purposes, according to the company.

This is AEL’s third successful NCD issuance. Its previous Rs 1,000 crore NCD issue in July 2025 was fully subscribed within three hours on the first day, indicating sustained investor confidence.

Expanding infrastructure footprint

Adani Enterprises continues to expand its infrastructure footprint across airports, data centres and road projects. The Navi Mumbai International Airport was inaugurated on October 8, 2025, and became operational on December 25, 2025.

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In October 2025, Google and AdaniConnex announced a partnership to develop India’s largest AI data centre campus in Visakhapatnam, supported by new green energy infrastructure.

The Nanasa–Pidgaon hybrid annuity model road project became operational in September 2025, marking AEL’s seventh active road project. The company has also received letters of award for three new projects, including the Sonprayag–Kedarnath ropeway in Uttarakhand and two road projects in Bihar.

Lead managers for the NCD issue include Nuvama Wealth Management, Trust Investment Advisors and Tipsons Consultancy Services.

(With agency inputs)