Adani NCD issue: Adani Enterprises launches Rs 1,000 crore NCD offer at 9.3% yield, aims to repay debt
The NCD issue, which opens for subscription on July 9 and closes on July 22, marks AEL's second such offering to the public. The base issue size is Rs 500 crore, with a green-shoe option to retain oversubscription up to an additional Rs 500 crore, PTI reported.
In a statement on Sunday, AEL said the NCDs will be available in tenors of 24, 36 and 60 months, and will offer a range of interest payment options including quarterly, annual, and cumulative structures across eight series.
Each NCD has a face value of Rs 1,000, with a minimum application requirement of Rs 10,000.
"This new issuance follows the strong market response to AEL's debut NCD offering, which witnessed capital appreciation for debt investors after a rating upgrade within six months — reflecting the group's consistent delivery and financial robustness," said Jugeshinder 'Robbie' Singh, Group CFO, Adani Group.
"As the incubator of India's most critical energy and transport utility platforms — including Adani Ports & SEZ, Adani Energy Solutions, Adani Power, and Adani Green Energy — AEL is successfully scaling the next generation of infrastructure businesses across airports, roads, data centres, and the green hydrogen ecosystem," Singh added.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
5 Books Warren Buffett Wants You to Read In 2025
Blinkist: Warren Buffett's Reading List
Undo
The proceeds from the issue will be used primarily for debt repayment, with at least 75% earmarked for prepayment or repayment of existing borrowings, and up to 25% for general corporate purposes, the company said.
AEL's latest offering comes amid a softening interest rate cycle, offering retail and non-institutional investors a relatively high fixed-income alternative. According to the company, the NCDs are priced competitively when compared with similarly rated debt and fixed deposits.
The NCDs have been rated 'CARE AA-; Stable' by CARE Ratings and '[ICRA]AA- (Stable)' by ICRA. CARE Ratings had first upgraded AEL's credit rating in February 2025 and reaffirmed it in June 2025, while ICRA assigned its rating in March and reaffirmed it last month. Instruments with this rating are considered to carry a high degree of safety regarding timely servicing of financial obligations and very low credit risk.
AEL's first public NCD issue in September 2024 — a Rs 800 crore offering — was fully subscribed on day one. The company claims it remains the only non-NBFC corporate offering listed debt products tailored for retail investors.
The lead managers for the issue are Nuvama Wealth Management Ltd, Trust Investment Advisors Pvt Ltd and Tipsons Consultancy Services Pvt Ltd.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
40 minutes ago
- Mint
Samsung Elec Q2 profit likely to drop 39% on weak AI chip sales
Samsung's Q2 profit seen at 6.3 trln won, down from 10.4 trln won prior year Supply of advanced AI chips to Nvidia fell behind targeted schedule, analysts say Uncertainty surrounding U.S. trade policy remains risk SEOUL, July 7 (Reuters) - Samsung Electronics is expected to forecast a 39% plunge in second-quarter operating profit on Tuesday, weighed down by delays in supplying advanced memory chips to artificial intelligence chip leader Nvidia. The world's biggest maker of memory chips is projected to report an April-June operating profit of 6.3 trillion won ($4.62 billion), its lowest income in six quarters and fourth consecutive quarterly decline, according to LSEG SmartEStimate. The prolonged weakness in its financial performance has deepened investor concerns over the South Korean tech giant's ability to catch up with smaller rivals in developing high-bandwidth memory (HBM) chips used in artificial intelligence data centres. Its key rivals, SK Hynix and Micron, have benefited from robust demand for memory chips needed for AI, but Samsung's gains have been subdued as it relies on the China market, where sales of advanced chips have been restricted by the U.S. Its efforts to get the latest version of its HBM chips to Nvidia certified by Nvidia are also moving slowly, analysts said. "HBM revenue likely remained flat in the second quarter, as China sales restrictions persist and Samsung has yet to begin supplying its HBM3E 12-high chips to Nvidia," said Ryu Young-ho, a senior analyst at NH Investment & Securities. He said Samsung's shipments of the new chip to Nvidia are unlikely to be significant this year. Samsung, which expected in March that meaningful progress over its HBM chip could come as early as June, declined to comment on whether its HBM 3E 12-layer chips had passed Nvidia's qualification process. The company, however, has started supplying the chip to AMD, the U.S. firm said in June. Samsung's smartphone sales are likely to remain solid, helped by demand for stock ahead of potential U.S. tariffs on imported smartphones, analysts said. Many of its key businesses including chips, smartphones and home appliances continue to face business uncertainty from various U.S. trade policies including President Donald Trump's proposal for a 25% tariff on non-US-made-smartphones and the July 9 deadline for "reciprocal" tariffs against many of its trading partners. The U.S. is also considering revoking authorisations granted to global chipmakers including Samsung, making it more difficult for them to receive U.S. technology at their plants in China. Shares in Samsung, the worst performing stock among major memory chipmakers this year, have climbed about 19% this year, underperforming a 27.3% rise in the benchmark KOSPI. ($1 = 1,363.3600 won) (Reporting by Heekyong Yang; Editing by Miyoung Kim and Sonali Paul)
Time of India
40 minutes ago
- Time of India
MCC to conduct e-Khata abhiyan every Friday
Mysuru: The Mysuru City Corporation (MCC) announced an e-Khata abhiyan every Friday between 3pm and 6pm to ensure that the public do not face any challenges in obtaining the services. This comes amid public outrage over the delay in issuing the e-Khatas due to various technical glitches, especially server and login-related issues, from the first week of June. There are around 1.7 lakh properties in the MCC limits, and till June 3, around 45,000 e-Khatas were issued. "We have set a target of issuing at least 1 lakh e-Khatas by the end of this financial year," explained Shaikh Tanveer Asif, MCC commissioner. He informed that the city corporation is working towards ensuring that citizens get e-Khatas hassle-free. "Complaints against delay in the delivery of services are taken seriously," he said. Meanwhile, the public and real estate stakeholders are upset with the delay in the issuing of e-Khatas, citing technical issues by the civic agencies in and around Mysuru for the last four weeks. They point out that the delay in issuing the e-Khatas on time has brought the real estate sector to a standstill. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo According to the public, the real challenge is poor preparedness. "The statements by the officials at Bengaluru are not reaching the officials working at the revenue offices. They are clueless about the modifications in the rules. If we pressurise them to issue the e-Khata in a time-bound manner, they cite server issues as the reason for the delay," said Sundar Rajan, a resident from Basaveshwara Road. "The situation is even more problematic in other urban bodies around the city. The state govt must train the employees about the rules. Govt must ensure that all the changes in the rule reach the officials on the ground," he said. Confederation of Real Estate Developers' Associations of India (CREDAI) Mysuru chapter president Shrihari D, and BS Prashanth, president of Federation of Organisations and Associations of Mysuru (FOAM), said getting an e-Khata for a property has become a herculean task, and they raised the issue with the agencies concerned. "Those who want to sell their properties urgently are facing a lot of challenges in getting the e-Khata. The real estate sector virtually became standstill due to the delay in the issuing of the e-Khatas," said Prashanth.
Time of India
40 minutes ago
- Time of India
1.7k people lose 15 cr after EV income promise
1 2 3 4 5 6 Kolkata: Around 1,700 people were duped of an estimated Rs 15 crore after investing in a dud electric scooter investment scheme for two years. Cops have arrested three men, including the mastermind behind the inter-district financial fraud. On June 25, Shashank Dutta, alias Swaroop Dutta, was arrested from Sitamarhi, Bihar. Based on his statements, Kunal Kumar, alias Kumar Kundan, and Sudhir Kumar, was arrested from Patna on Sunday. The accused had been operating from an office — Electrino Private Limited — on Deshbandhunagar Railpukur Road in Baguiati since 2023. The business model involved getting individuals to buy electric scooters for Rs 85,000 and leave them at the showroom. In return, the company promised a monthly rent of Rs 7,500. Customers were told that the scooters would be leased to other users for bike taxi and food delivery purposes. "Several people across districts invested in the scheme. Documents were signed, and buyers selected models and colours, but the scooters were kept at the showroom, and later sold to others. Around 40-50 scooters were kept on display at any given time," said an officer. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata The company opened two more branches, in Bankura and Ranchi. While some investors received payments in the beginning, most did not. New offers were introduced earlier this year, leading to more people investing. On May 7, the Baguiati office was shut, and the operators went missing. The scam came to light on May 8 when Shanti Sudhin Mukherjee from Purba Sinthi Road filed a complaint. Based on an advertisement, Mukherjee had invested in 11 scooters. He later discovered the company's office was locked and his payments stopped. He also alleged additional financial loss after enrolling his family in a training programme promoted by the firm. Police said they are looking for Susmita Das, Gulshan Kumar Singh, and Smita Madan, who have also been named in the FIR.
