Adani Enterprises, is set to open its third Non-Convertible Debenture (NCD) issue next week, targeting ₹1,000 crore from public investors, according to an exchange filing.
This follows a successful second NCD round in July 2025, where the company also raised ₹1,000 crore.
“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,” said Jugeshinder ‘Robbie’ Singh, Group CFO of Adani Group.
What Are Adani Enterprises NCDs?
NCDs are debt instruments allowing companies to raise funds from the public by offering a fixed interest rate over a defined period. Investors can receive interest monthly, quarterly, or annually.
Key Details of Adani Enterprises NCD Issue
- Issue Dates: Opens Tuesday, January 6, 2026, and closes Monday, January 19, 2026.
- Offer Size: Base issue of ₹500 crore with a greenshoe option to raise an additional ₹500 crore.
- Yield: Offers returns of up to 8.90% per annum, competitive with similarly rated NCDs and fixed deposits.
- Allotment: NCDs will be listed on BSE and NSE and allotted on a first-come, first-served basis.
- Application: Minimum of 10 NCDs per investor, with a face value of ₹1,000 each and increments of 1 NCD. Minimum investment: ₹10,000 per lot.
Tenure and Interest Options
The NCDs will be available in 24-month, 36-month, and 60-month tenures, with options for quarterly, annual, or cumulative interest payments across eight series.
Utilisation of Funds
Proceeds from the NCD issue will primarily be used for:
- Prepayment or repayment of company loans
- General corporate purposes
Lead Managers
Nuvama Wealth Management Ltd., Trust Investment Advisors Pvt Ltd, and Tipsons Consultancy Services Pvt Ltd are the lead managers for this issue.
Disclaimer: Investments in NCDs are subject to market risks. Investors are advised to read the offer document carefully before investing.
