Adani Enterprises Limited (AEL) on Tuesday successfully raised Rs 1,000 crore through a public issue of non-convertible debentures (NCDs), with the entire issue selling out within just 45 minutes of opening, according to stock exchange data.
Investors fully subscribed to the base issue of Rs 500 crore within the first 10 minutes, while total subscriptions crossed Rs 1,000 crore within an hour after the company exercised the green shoe option.
The issue opened on January 6 and is scheduled to close on January 19, 2026, though the swift subscription highlighted strong investor demand.
The company offers the NCDs at an effective annual yield of up to 8.90 per cent and allots them on a first-come, first-served basis.
The bond issue comprised a base size of Rs 500 crore, with an additional Rs 500 crore available through a green shoe option.
Adani Enterprises plans to list the NCDs on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
ICRA and CARE Ratings rated the NCDs ‘AA-’ with a stable outlook, indicating a high degree of safety regarding the timely servicing of financial obligations.
The company stated that the bonds offer competitive returns when compared with similarly rated debt instruments and fixed deposits, making them attractive to retail investors.
Tenure and Interest Options
The NCDs are available in tenors of 24, 36 and 60 months, with multiple interest payment options, including quarterly, annual and cumulative payouts, spread across eight series.
The company said it will use at least 75 per cent of the proceeds to repay existing debt, while it may deploy the remaining amount for general corporate purposes.
This is AEL’s third successful public bond issuance in recent times. Its previous Rs 1,000 crore NCD issue in July 2025 was fully subscribed within three hours on the first day, reflecting sustained investor confidence.
Adani Enterprises continues to expand its presence across key infrastructure sectors.
The company has major ongoing and recently completed projects, including the Navi Mumbai International Airport, which it inaugurated in October 2025 and made operational on December 25, 2025.
In October, Google and AdaniConnex announced a partnership to develop India’s largest artificial intelligence data centre campus in Visakhapatnam, along with associated green energy infrastructure.
The company also operationalised the Nanasa–Pidgaon HAM road project in September 2025, marking its seventh active road project.
Additionally, AEL has received letters of award for three new projects, including a ropeway connecting Sonprayag and Kedarnath in Uttarakhand and two road projects in Bihar under the hybrid annuity model.
Nuvama Wealth Management, Trust Investment Advisors and Tipsons Consultancy Services acted as the lead managers for the bond issue.
The swift subscription of the NCDs further reinforces Adani Enterprises’ position in the capital markets and highlights strong investor faith in its execution capabilities and long-term infrastructure growth strategy.
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