Adani Enterprises has announced a public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs) amounting to ₹500 crore, with an option to retain over-subscription up to ₹500 crore, aggregating up to ₹1,000 crore. The decision was made during a board meeting held on December 29, 2025. The NCDs will be listed on the BSE and NSE.
Details of the NCD Issue
Adani Enterprises Limited has announced a public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs). The base issue size is ₹500 crore, with an option to retain over-subscription up to ₹500 crore, thus aggregating up to ₹1,000 crore. Each NCD has a face value of ₹1,000.
Key Dates and Listing
The prospectus for the issue is dated December 29, 2025. The NCDs are proposed to be listed on both the BSE Limited and the National Stock Exchange of India Limited. The issue opens on January 6, 2026, and closes on January 19, 2026.
Tenure and Coupon Rates
The NCDs come in various series with different tenors and coupon rates:
- Series I: 24 months, annual coupon of 8.60%
- Series II: 24 months, cumulative. Redemption amount of ₹1,179.40 per NCD.
- Series III: 36 months, quarterly coupon of 8.48%
- Series IV: 36 months, annual coupon of 8.75%
- Series V: 36 months, cumulative. Redemption amount of ₹1,286.45 per NCD.
- Series VI: 60 months, quarterly coupon of 8.62%
- Series VII: 60 months, annual coupon of 8.90%
- Series VIII: 60 months, cumulative. Redemption amount of ₹1,531.95 per NCD.
Security and Default
The NCDs are secured by a first-ranking pari passu charge on identified loans and advances, ensuring a security cover of at least 110%. In case of default, the company will pay an additional interest over the agreed coupon rate.
Source: BSE
