Adani Enterprises is launching its third public issue of secured, rated, listed redeemable, non-convertible debentures (NCDs) of ₹1,000 crore. The issue opens on January 6, 2026, and closes on January 19, 2026, offering yields up to 8.90% per annum. NCDs are rated ‘AA-‘ with ‘Stable’ Outlook and are proposed to be listed on BSE and NSE. At least 75% of the proceeds will be used for debt repayment.
NCD Issue Details
Adani Enterprises Limited (AEL) has announced the launch of its third public issue of secured, rated, listed redeemable, non-convertible debentures (NCDs) amounting to ₹1,000 crore. The issue includes a base issue of ₹500 crore and a Green Shoe option of up to an additional ₹500 crore.
Key Dates and Yield
The issue opens on Tuesday, January 6, 2026, and closes on Monday, January 19, 2026. Investors can expect an effective yield of up to 8.90% p.a.
Credit Rating and Listing
The NCDs are rated ‘AA-‘ with a ‘Stable’ Outlook by ICRA Limited and CARE Ratings Limited. The NCDs are proposed to be listed on both BSE and NSE, providing liquidity to investors. Allotment will be on a First Come First Served Basis.
Use of Proceeds
At least 75% of the proceeds from the issuance will be utilized towards the prepayment or repayment of the Company’s indebtedness, and/or any interest on such indebtedness. The balance (up to a maximum of 25%) will be used for general corporate purposes.
Investment Details
The NCDs have a face value of ₹1,000 each. Each application must be for a minimum of 10 NCDs (₹10,000) and in multiples of 1 NCD thereafter.
Tenors and Interest Options
The NCDs are available in tenors of 24 months, 36 months, and 60 months, with quarterly, annual, and cumulative interest payment options across eight series. Specific coupon rates and redemption amounts vary depending on the chosen series.
For the 24-month tenor, the coupon rate is 8.60%. For the cumulative option, the redemption amount is ₹1179.40 per NCD.
For the 36-month tenor, the coupon rate is 8.48% for quarterly and 8.75% for annual. For the cumulative option, the redemption amount is ₹1286.45 per NCD.
For the 60-month tenor, the coupon rate is 8.62% for quarterly and 8.90% for annual. For the cumulative option, the redemption amount is ₹1531.95 per NCD.
Strategic Context
According to Jugeshinder ‘Robbie’ Singh, Group CFO, Adani Group, this NCD issuance broadens access to India’s capital markets, giving retail investors a stake in long-term infrastructure growth. He added that Adani Enterprises remains focused on creating businesses that will power India’s economic transformation, from airports and roads to data centers and green hydrogen.
Recent Achievements
The announcement also highlights recent key achievements of Adani Enterprises: The Navi Mumbai International Airport was inaugurated on October 8, 2025, and commenced operations on December 25, 2025. A partnership with Google and AdaniConnex was announced in October 2025, to develop India’s largest AI data center campus. The “Nanasa-Pidgaon” HAM project was operationalized in September 2025.
Source: BSE
