In a stunning show of investor confidence, Adani Enterprises Limited’s (AEL) second public issuance of secured, redeemable, non-convertible debentures (NCDs) worth ₹1,000 crore was fully subscribed within just three hours of its opening on Wednesday. By 3:30 PM, bids had already crossed ₹1,400 crore, according to stock exchange data.
Offered on a first-come, first-served basis, the issue drew overwhelming interest exclusively from the non-institutional segment—retail investors, high net worth individuals (HNIs), and corporates—underscoring strong market faith in AEL’s fundamentals and credit profile.
With a base issue size of ₹500 crore and a green shoe option of another ₹500 crore, the NCDs were priced attractively with a face value of ₹1,000 each and a minimum investment of ₹10,000. They offered yields that outshone comparable NCDs and fixed deposits, and came with ratings of “CARE AA-; Stable” and “ICRA AA- (Stable)”.
Tenors ranged from 24 to 60 months, with multiple interest payout options. Notably, 75% of the proceeds will go toward debt repayment, with the rest earmarked for corporate use.
This follows AEL’s previous ₹800 crore NCD issue in September 2023, which also sold out on Day 1—reaffirming investor trust in the Adani Group’s financial resilience.
