Adani Enterprises launches ₹1,000-cr NCD issue with green shoe option, subscription opens Jan 6

Adani Enterprises Ltd (AEL), the flagship company of Adani Group, on Friday (January 2) announced the launch of its third public issue of secured, rated, listed redeemable non-convertible debentures (NCDs) for a total size of ₹1,000 crore.

The issue opens on Tuesday, January 6, 2026, and closes on Monday, January 19, 2026, with allotment on a first-come, first-served basis. The base size of the issue is ₹500 crore, with a green shoe option of up to an additional ₹500 crore, taking the total potential

issue size to ₹1,000 crore.

The NCDs will be listed on both the BSE and NSE. Each NCD has a face value of ₹1,000, with a minimum application of 10 NCDs and multiples of one NCD thereafter, making the minimum application ₹10,000.

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The NCDs carry an effective yield of up to 8.90% per annum and have been rated ‘CARE AA- Stable’ by CARE Ratings Ltd and ‘ICRA AA- (Stable)’ by ICRA Ltd. The ratings indicate a high degree of safety in servicing financial obligations, with very low credit risk.

Proceeds from the issuance will primarily be used for repayment or prepayment of existing indebtedness, including interest obligations, with up to 25% allocated for general corporate purposes.

AEL’s previous NCD issue of ₹1,000 crore, launched in July 2025, was fully subscribed within three hours on the first day. AEL is among the few private corporates outside NBFCs offering listed debt products for retail investors, providing an opportunity for individual and non-institutional investors to participate in India’s infrastructure growth story.

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With recent interest rate cuts and a softer rate cycle, the issuance is positioned as a stable fixed-income investment avenue offering competitive yields compared to similarly rated NCDs and bank fixed deposits.

Nuvama Wealth Management Ltd, Trust Investment Advisors Private Ltd and Tipsons Consultancy Services Private Ltd are the lead managers to the issue. The NCDs are available in tenures of 24 months, 36 months and 60 months with quarterly, annual and cumulative interest payment options across eight series.

Shares of Adani Enterprises Ltd ended at ₹2,278, up by ₹18, or 0.80%, on the BSE today, January 1.