Adani NCD issue: Rs 1,000 crore offer fully subscribed in 45 minutes; base size filled in 10 minutes

Adani Enterprises Limited’s (AEL) Rs 1,000 crore public issue of non-convertible debentures (NCDs) was fully subscribed within just 45 minutes of opening on Tuesday.

The base issue size of Rs 500 crore was fully subscribed in about 10 minutes, while overall subscription crossed Rs 1,000 crore, including the green shoe option, in under an hour.

According to BSE data, bids were received for around 2.19 crore NCDs against an issue size of 50 lakh by the close of the first day.

The issue opened on Tuesday and will remain open until January 19, 2026, with allotment on a first-come, first-served basis.

The NCDs offer an effective yield of up to 8.90 per cent per annum, the company said. The base size of the issue is Rs 500 crore, with an additional green shoe option of Rs 500 crore.

The debentures, proposed to be listed on both the BSE and NSE, have been rated ‘AA-’ with a stable outlook by ICRA and CARE Ratings.

According to PTI, at least 75 per cent of the issue proceeds will be used for repayment of existing debt, while the remaining amount may be used for general corporate purposes.

The NCDs are being offered in tenors of 24, 36 and 60 months, with multiple interest payment options including quarterly, annual and cumulative across eight series.

This follows AEL’s Rs 1,000 crore NCD issuance in July 2025, which was fully subscribed within three hours on the first day, PTI reported.

Adani Enterprises continues to expand its infrastructure portfolio, with recent milestones including the operationalisation of the Navi Mumbai International Airport in December 2025 and the announcement of a Google–AdaniConnex partnership for an AI data centre campus in Visakhapatnam.