Adani Enterprises Limited (AEL) has unveiled plans for its inaugural public non-convertible debenture (NCD) issue, scheduled to launch on 4 September.
The company aims to raise up to Rs 800 crore through this offering, which will include up to 80 lakh secured, listed, and redeemable NCDs, each with a face value of Rs 1,000.
The NCD issue is likely with a base size of Rs 400 crore, along with a green-shoe option to retain over-subscriptions up to an additional Rs 400 crore, potentially reaching a total of Rs 800 crore.
AEL, the flagship entity of the Adani Group, plans the issue to run from 4 September to 17 September, with flexibility for early closure or extension.
Investors can apply for NCDs with a minimum investment of Rs 10,000, in multiples of Rs 1,000.
The NCDs, offering an effective yield of up to 9.90% per annum, are likely to list on both BSE Limited and NSE Limited.
The issue will direct at least 75% of the raised funds towards prepaying or repaying existing debt, while the remaining 25% will go to general corporate purposes, in line with SEBI regulations.
Investors can choose from various tenors of 24 months, 36 months, and 60 months, with interest payment options available on a quarterly, cumulative, or annual basis across eight series.
Jugeshinder Singh, Chief Financial Officer of the Adani Group, emphasized that the company’s core operations remain centered on infrastructure and utilities, with an increased focus on renewable energy.
Meanwhile, the NCDs have been rated CARE A+; Positive by CARE Ratings, reflecting a positive outlook.
AEL, recognized as India’s largest business incubator by market capitalization, has a robust history of developing sustainable infrastructure since its inception in 1993.
The company’s diverse portfolio, including ventures in solar and wind energy, airports, and roads, has significantly boosted its financial performance.
For the first quarter of the fiscal year, AEL reported a 50.1% increase in net profit to Rs 10,279 crore year-on-year, while EBITDA rose by 32.9% to Rs 22,570 crore.
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