Adani Enterprises to raise up to Rs 800 cr as non-convertible debentures

Adani Enterprises, the flagship company of the Adani Group, is raising up to Rs 800 crore as non-convertible debentures (NCDs).

The NCDs have been rated “CARE A+; positive” — signifying low credit risk, a company statement said.

The majority of the proceeds from the issue will be utilised to prepay or repay, in full or in part, the existing debt, and up to 25 per cent for general corporate purposes.

AEL’s offering will include up to 80,00,000 non-convertible debentures, each with a face value of Rs 1,000. The issue will open on September 4 and close on September 17, with an option of early closure or extension.

 

The minimum application size for each application for NCDs would be Rs 10,000 across all series collectively and in multiples of Rs 1,000 thereafter. The NCDs are offered in tenors of 24 months, 36 months, and 60 months, with quarterly, cumulative, and annual interest payment options across eight series.