Adani Enterprises To Raise ₹10 Billion Via Public NCD Issue From July 3

Adani Enterprises Ltd. plans to raise up to ₹10 billion through secured, redeemable non-convertible debentures (NCDs), the company said in a press release Sunday. The issue opens for subscription on July 3 and closes on July 22, with a base size of ₹5 billion and a green shoe option of another ₹5 billion.

At least 75% of the proceeds will be used to repay or prepay existing debt, with the remaining 25% earmarked for general corporate purposes.

The NCDs will be offered in tenors of 24, 36 and 60 months, with various interest payment options across eight series. The face value is ₹1,000 per debenture, with a minimum application size of ₹10,000. The issue has been rated 'AA-' (Stable) by CARE Ratings.