Mumbai | January 6, 2026
Adani Enterprises Ltd (AEL) saw overwhelming investor demand for its ₹1,000-crore non-convertible debenture (NCD) public issue, which was fully subscribed within just 45 minutes of opening, according to stock exchange data.
The base issue of ₹500 crore was fully taken up within the first 10 minutes of launch. Including the ₹500-crore greenshoe option, total subscriptions crossed the ₹1,000-crore mark in under an hour, reflecting strong appetite from retail and institutional investors alike.
The issue opened on Tuesday and will remain open until January 19, 2026, with allotment on a first-come, first-served basis. The NCDs offer an effective annual yield of up to 8.90 percent, making them attractive compared with similarly rated debt instruments.
Issue Structure and Credit Rating
The NCD issue comprises a base size of ₹500 crore along with an additional ₹500-crore greenshoe option. The debentures are proposed to be listed on both the BSE and NSE.
Rated AA- with a stable outlook by ICRA and CARE Ratings, the NCDs offer competitive returns compared with similarly rated bonds and fixed deposits. The structure provides retail investors an opportunity to participate in India’s expanding infrastructure growth story through a fixed-income product.
Use of Proceeds and Track Record
According to the company, at least 75 percent of the funds raised will be used to repay existing debt, while the remaining amount may be allocated toward general corporate purposes.
AEL has demonstrated strong investor confidence in recent months. In July 2025, the company’s previous ₹1,000-crore NCD issue was fully subscribed within three hours on the first day.
The current NCDs are available in tenures of 24, 36, and 60 months, spread across eight series, with options for quarterly, annual, and cumulative interest payments.
Infrastructure Expansion Continues
Adani Enterprises continues to expand its infrastructure portfolio, including the Navi Mumbai International Airport, the Google–Adani AI data center campus in Visakhapatnam, and multiple road projects across India.
The Navi Mumbai International Airport was inaugurated on October 8, 2025, and commenced operations on December 25, 2025, reinforcing AEL’s execution capabilities.
The lead managers for the issue are Nuvama Wealth Management, Trust Investment Advisors, and Tipsons Consultancy Services.
