Adani Enterprises' public debt issue oversubscribed on launch day, bankers say
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Indian billionaire Gautam Adani 's flagship firm saw strong demand for its second public bond issue in less than a year, with the offering oversubscribed on launch day, three merchant bankers said on Wednesday. Adani Enterprises plans to raise up to 10 billion rupees ($116.7 million) through the sale of two-, three- and five-year bonds.The issue opened for subscription earlier in the day and received bids worth 15 billion rupees as of 5 p.m. IST, the bankers said.It will now close on Friday, ahead of its earlier schedule of July 22, Adani Enterprises said in a public notice."We think the company will tap this market on a regular basis considering the strong response," one of the bankers said.They are directly involved in the issue and requested anonymity as they are not authorised to speak to the media.Adani Enterprises will pay an annual coupon of between 8.95% and 9.30%, they said.Corporates led demand for the issue, followed by high net-worth individuals and retail investors, they added.This is India's biggest public issue in 14 months and comes after a subdued first quarter where firms were able to raise only about 15 billion rupees. Trust Investment Advisors and Tip Sons Consultancy Services are the lead managers for the issue.Adani Enterprises did not immediately respond to a Reuters request for comment.Last September, the company raised 8 billion rupees in its debut public issue, offering yields 30-60 basis points higher across tenors.Adani Enterprises was able to garner over 7 billion rupees in bids on the first day until 5:00 p.m. IST last year.($1 = 85.6800 Indian rupees)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
a few seconds ago
- Mint
3,00,000 jobs at risk? Experts say THESE sectors likely to get impacted due to Trump tariffs on India
There are concerns among experts that increased tariffs announced by President Donald Trump on Indian imports into the United States, will have a negative impact on jobs in the affected sectors, PTI reported. According RP Yadav, founder and CMD of workforce solutions and HR services provider Genius HRTech, the hiked US tariffs are expected to significantly impact India's employment landscape in industries heavily dependent on the US market for growth and continuity. Sectors such as agriculture, auto components, gems and jewellery, and textiles are likely to be among the worst impacted, as per Yadav. He added that even within these sectors, it is the micro, small and medium enterprises (MSMEs) who will bear the brunt. Yadav estimates that between 2,00,000 to 3,00,000 jobs are at immediate risk. Further, the labour-intensive textiles industry alone could potentially lose 1,00,000 jobs, if the tariff regime continues beyond the next six months, he added. He added that in the gem and jewellery sector, including units in Surat and SEEPZ in Mumbai, 'thousands of jobs are at risk due to reduced demand and cost escalation in the US market', he added. However, not all agree. Balasubramanian Anantha Narayanan, Senior VP at TeamLease Services, feels that unlike China, India is largely a domestic consumption driven economy. Thus, any impact from the US tariffs would not impact jobs. 'At this point in time, we aren't seeing any signs of a slowdown or loss of jobs. This also by extension means that our jobs are largely in service of domestic demand too, with the exception of some sectors like ITeS among others,' Narayanan said. He added, 'Our exports to the USA are $87 billion, which is roughly about 2.2 per cent of our overall GDP. Largely pharma, electronics etc. won't be affected for now, which will further limit the export exposure to industries such as textiles, gems and jewellery among others.' Further, Narayanan noted that the full 50 per cent tariff hike comes into effect later this month on August 27, and it is possible that some negotiations could happen before that. He added that positives from the recently announced free trade agreement (FTA) with the UK and other countries, could possibly make way for the redirection of Indian goods, rather than a complete shut down of the exports. 'Even if these US tariffs do come about, we'll definitely figure out a way of redirecting or diversifying our trade to other markets. Therefore, at this point in time, we aren't seeing any signs of a slowdown or loss of jobs. It's an evolving situation and we'll get to know more in due course of time,' he feels. Aditya Mishra, MD and CEO of CIEL HR also feels that while the US tariff scenario is unsettling for Indian exporters, especially those in the auto components, electronics, engineering goods, footwear, gems and jewellery, leather, shrimp, and textiles, widespread layoffs appear unlikely at this stage. 'Companies are already in cost-containment mode, reducing discretionary spending, streamlining production, and freezing hiring. The immediate pressure will be on temporary and contract roles, particularly shop-floor workers, artisans, sales and logistics staff, and some mid-level managers in export-led units. This will have a cascading effect on thousands of MSMEs in the supply chain, which collectively account for a large share of employment,' Mishra felt.
Time of India
15 minutes ago
- Time of India
Paint sector slowdown: Early monsoon and price wars hit June quarter earnings, companies eye festive revival
The June quarter turned out to be a muted one for India's leading paint makers, as the early arrival of the monsoon and aggressive pricing by new entrants ate into their growth. Asian Paints, Berger Paints, Kansai Nerolac Paints and Akzo Nobel India all reported subdued numbers, though sequential improvement was visible in urban markets and realisations improved due to price hikes. Early monsoon dampens demand Asian Paints Managing Director and CEO Amit Syngle said the business saw a sharp impact from the unexpected onset of rains. 'In April and May, the demand was better, but it was strongly impacted by the early monsoon. However, I think the silver lining was that we saw some shoots of demand coming up in urban areas, which were down, and we hope that it continues as we go ahead,' Syngle said, quoted PTI. The company reported a 1.19 per cent dip in standalone sales revenue to Rs 7,848.83 crore. Its volume growth stood at 3.9 per cent year-on-year, but value fell 1.2 per cent. Berger Paints CEO Abhijit Roy too pointed to the 'heavier than expected monsoon towards the end of May and June,' which he said moderated growth. The company posted an 11 per cent fall in consolidated net profit at Rs 315 crore, while revenue from operations rose 3.55 per cent to Rs 3,200.76 crore. Competition squeezes margins Alongside the weather, intensifying market rivalry weighed heavily. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Could This NEW Collagen Blend Finally Reduce Your Cellulite? Vitauthority Learn More Undo 'The overall competition in the market is intense, with a lot of new competition coming in,' said Syngle, pointing to aggressive new players challenging incumbents in the decorative paints segment. Kansai Nerolac's Managing Director Pravin Chaudhari also highlighted the pressure. 'Overall, monsoon in many places has caused some disturbances that have led to temporary stoppages, especially in projects as well as some part of retail,' he said. The company reported a 4.12 per cent drop in consolidated net profit to Rs 215.6 crore, while revenue rose 1.35 per cent to Rs 2,162.03 crore. Akzo Nobel India, which reported a 20.6 per cent decline in net profit to Rs 91 crore, described the quarter as 'stressed' due to muted consumer sentiment and competitive intensity. CMD Rajiv Rajgopal said revenue growth across top players remained 'pretty flattish.' Paint makers are betting on the festive season to drive a turnaround. With Diwali coming earlier than last year, companies expect demand in August and September to improve. 'Construction activity based on whatever we saw in the month of June, we believe that Q2 should be better as far as decorative is concerned,' Chaudhari added. The Rs 75,000-crore Indian paint industry remains dominated by Asian Paints, with Berger, Kansai Nerolac, Akzo Nobel, Indigo Paints, Shalimar Paints and Nippon Paints also vying for market share. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
News18
25 minutes ago
- News18
TV Ads To Cost Rs 16 Lakh/10 Second For India Matches In Asia Cup 2025: Report
Last Updated: India will face Pakistan in the high-voltage Asia Cup 2025 Group A match on September 14 in Dubai. Indian men's cricket team will face arch-rivals Pakistan in the Group A match of the Asia Cup 2025 on September 14. The high-voltage match is scheduled to take place at Dubai International Cricket Stadium. In India, the live telecast and streaming rights of Asia Cup 2025 are with Sony Sports Network and according to a report in Economic Times, the ad inventory for India's Asia Cup 2025 matches has been priced at Rs 14-16 lakh per 10-second slot. As per the ad card rate issued to advertisers by official media rights holder Sony Pictures Networks India (SPNI), a 10-second ad on TV during India-Pakistan match will cost Rs 16 lakh. • Co-presenting sponsorship: ₹18 crore • Associate sponsorship: ₹13 crore • Spot-buy package (all India and non-India games): ₹16 lakh per 10 seconds, or ₹4.48 crore Digital deals on Sony LIV • Pre-rolls: ₹275 per 10 seconds (₹500 for India games; ₹750 for India-Pakistan) • Mid-rolls: ₹225 (₹400 for India games; ₹600 for India-Pakistan) • Connected TV ads: ₹450 (₹800 for India games; ₹1,200 for India-Pakistan) The matches in the Asia Cup 2025, which is set to run from September 9 to 28, will be played in the T20I format. Dubai and Abu Dhabi will host the 19 matches between eight teams. Dubai International Cricket Stadium in Dubai will host the high-voltage India vs Pakistan Asia Cup 2025 match on Sunday, September 14. India's first Group A match of the Asia Cup 2025 against the United Arab Emirates is also scheduled to take place in Dubai on September 10, and the last group stage fixture against Oman will be played in Abu Dhabi on September 19. One Super Fours match (on September 22 between A2 and B1) will also take place in Abu Dhabi, whereas the remaining five Super Fours matches and the final (on September 28) are scheduled in Dubai. Five out of six Group B and two Group A matches (UAE vs Oman and India vs Oman) will take place in Abu Dubai. In the Asia Cup 2025, India, Pakistan, UAE, and Oman are part of Group A, and Sri Lanka, Bangladesh, Afghanistan, and Hong Kong are part of Group B. The top two teams from each group will qualify for the Super Fours. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
