₹1,000.00 Cr| Listing at BSE, NSE | Wed, Jul 9, 2025 - Fri, Jul 11, 2025
Adani Enterprises Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture with a base issue size of ₹500.00 Cr and an option to retain oversubscription up to ₹500.00 Cr, aggregating to a total issue size of ₹1,000.00 Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Adani Enterprises Ltd. NCD issue opens on Jul 9, 2025 and closes on Jul 11, 2025. NCD are proposed to be listed on NSE and BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 8.85% per annum to 9.30% per annum, depending on the series and tenure selected.
The NCD have been rated: AA- Stable by ICRA Limited and AA- Stable by CARE Ratings Limited.
Nuvama Wealth Management Ltd. is the Lead Manager to the issue, Catalyst Trusteeship Ltd. is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Wed, Jul 9, 2025
Close Date
Fri, Jul 11, 2025
Issue Size (Overall)
₹1,000.00 Cr
Adani Enterprises Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Cumulative | Quarterly | Annual | Cumulative | Quarterly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.95% | NA | 8.85% | 9.15% | NA | 9.00% | 9.30% | NA |
| Effective Yield (% per Annum) | 8.95% | 8.95% | 9.14% | 9.14% | 9.15% | 9.30% | 9.29% | 9.30% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,187.01 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,300.70 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,560.30 |
Adani Enterprises Ltd. NCD Rating given as following :
| S.No. | Rating Agency | NCD Rating | Outlook | Safety Degree | Risk Degree |
|---|---|---|---|---|---|
| 1 | CARE Ratings Limited | AA- | Stable | High degree of safety | Very low credit risk |
| 2 | ICRA Limited | AA- | Stable | High degree of safety | Very low credit risk |
Adani Enterprises Ltd.'s revenue increased by 2% and profit after tax (PAT) rose by 135% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 1,98,135.54 | 1,60,731.85 | 1,41,487.82 |
| Total Income | 1,00,365.08 | 98,281.51 | 1,28,734.09 |
| Profit After Tax | 8,638.27 | 3,674.06 | 3,790.25 |
| NET Worth | 37,890.05 | 44,186.29 | 56,470.45 |
| Reserves and Surplus | 4,144.83 | 3,777.61 | |
| Total Borrowing | 1,268.05 | 573.25 | |
| Amount in ₹ Crore | |||
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 10.00% | 5,00,000 |
| Non-Institutional | 30.00% | 15,00,000 |
| HNI | 30.00% | 15,00,000 |
| Retail | 30.00% | 15,00,000 |
| Total | 100.00% | 50,00,000 |
Adani Enterprises Limited, incorporated in 1993, is a subsidiary of Adani Group, which operates in India's energy and infrastructure sectors.
The company has nurtured and grown several successful businesses since its inception. Some of these businesses, like Adani Ports and Special Economic Zone Limited, Adani Power Limited, Adani Energy Solutions Limited, Adani Green Energy Limited, Adani Total Gas Limited, and Adani Wilmar Limited, have been listed independently, with a combined market capitalization of Rs 16,200 billion (approximately US$194 billion) as of June 30, 2024.
[Dilip Davda] This is the 2nd debt issue from the flagship company of Adani group. The last debt offer was in September 2024. Base size of the issue is Rs. 500 cr. and has green shoe option of Rs. 500 cr. thus making an overall size of the offer of Rs. 1000 cr. This debt offer is rated CARE AA-/ (Stable),and ICRA AA-/(Stable) by CARE Ratings Ltd., and ICRA Ltd. The coupon rates are 8.95% to 9.30% based on the series opted. Investors can park funds for medium to long term. Read detail review...
The Adani Enterprises NCD July 2025 was subscribed 3.73 times on Jul 11, 2025 18:00. The NCD subscribed 3.35 times in Retail, 2.24 times in HNI, 6.49 times in Non-Institutional, and 1.06 times in Institutional category.
Adani Enterprises Ltd.
Adani Corporate House, Shantigram,
, Near Vaishno Devi Circle
S. G. Highway
Ahmedabad, Gujarat, 382421
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Adani Enterprises Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
