Mumbai, Dec 03 : Adani Enterprises Ltd (AEL) on Friday announced the launch of its third public issue of secured, rated, listed and redeemable non-convertible debentures (NCDs), offering returns of up to 8.90% per annum. The issue has a base size of ₹500 crore, with an option to retain oversubscription of up to an additional ₹500 crore under the green shoe option, taking the total issue size to ₹1,000 crore.
Commenting on the launch, Adani Group Chief Financial Officer Jugeshinder ‘Robbie’ Singh said the latest NCD issue reflects the company’s efforts to widen retail participation in India’s capital markets.
“This third NCD issuance marks another step in our journey to broaden access to India’s capital markets and give retail investors a stake in long-term infrastructure growth. The strong response to our previous offerings reinforces trust in our strategy and financial discipline,” Singh said, adding that AEL continues to focus on building infrastructure businesses spanning airports, roads, data centres and green hydrogen.
AEL’s previous NCD issue of ₹1,000 crore, launched in July last year, was fully subscribed within three hours on the first day. The company noted that it remains the only private, non-NBFC corporate entity offering a listed debt product to retail investors.
The proposed NCDs have been rated ‘CARE AA-; Stable’ by CARE Ratings Limited and ‘AA- (Stable)’ by ICRA Limited. Instruments with this rating are considered to have a high degree of safety and carry very low credit risk in terms of timely servicing of financial obligations.
The issue will open on January 6, 2026, and close on January 19, 2026, with an option for early closure or extension. Each NCD has a face value of ₹1,000, with a minimum application of 10 NCDs and thereafter in multiples of one, translating to a minimum investment of ₹10,000.
According to the company, at least 75% of the proceeds will be used for the prepayment, repayment or servicing of existing debt, while up to 25% will be allocated for general corporate purposes.