Adani Enterprises declares early closure of ₹800 crore-NCD issue

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Adani Enterprises on Thursday announced an early closure of ₹800 crore secured non-convertible debentures (NCD) issue. The company launched the issue on September 4 (Wednesday) with a base issue size of ₹400 crore and an option to retain over-subscription of another ₹400 crore, aggregating up to ₹800 crore.

The NCD issue was slated to close on September 17. AEL’s offering included up to 80 lakh NCDs with a face value of ₹1,000. The NCDs were available in tenors of 24 months, 36 months and 60 months with quarterly, cumulative, and annual interest payment options across eight series. The instruments carried an effective annual yield ranging from 9.25 per cent to 9.90 per cent.

The minimum investment was ₹10,000 across all series collectively and in multiples of ₹1,000 thereafter.

Vishal Goenka, Co-Founder of IndiaBonds.com, said, “Demand for Adani Enterprises maiden bond public issue has been good from retail participants. This is the first non-financial public issuance this financial year and being a well-recognised household name makes it attractive as per client feedback.”

The secured redeemable NCDs will be listed on BSE and National Stock Exchange of India. Trust Investment Advisors Pvt and AK Capital Services were the other lead managers for the public issue.