Debt financing
Adani Enterprises' Rs.1,000-Cr NCD bond issue fully subscribed
Ahmedabad-based, publicly listed Adani Enterprises Limited (AEL) has raised INR 1,000 crore through a public issue of non-convertible debentures (NCDs). The base issue of INR 500 crore was subscribed within 10 minutes, with the additional green shoe option of INR 500 crore being filled shortly after, totaling full subscription within 45 minutes of opening. Nuvama Wealth Management, Trust Investment Advisors, and Tipsons Consultancy Services acted as lead managers for the NCD issue.The NCDs offer an effective yield of up to 8.90% per annum and are available in 24, 36, and 60-month tenors, with quarterly, annual, and cumulative interest payment options across eight series, and are set to be listed on both the BSE and NSE. At least 75% of the proceeds from this issue are designated for repaying existing debt, while the remaining amount may be used for general corporate purposes.
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