Adani Enterprises raises ₹1,000 crore as third public bond issue sells out in 45 minutes
By Axel Miller | 06 Jan 2026
Adani Enterprises Limited (AEL) saw overwhelming investor demand for its third public issue of non-convertible debentures (NCDs) today, with the offering fully subscribed within 45 minutes of opening. Despite the successful fundraise, AEL shares closed 0.77% lower at ₹2,262.00 on the NSE, as the broader market remained selective.
The base issue of ₹500 crore was fully lapped up in just 10 minutes, while total subscriptions—including the ₹500 crore green shoe option—crossed the ₹1,000 crore mark before 11:00 AM. While the issue is officially slated to close on January 19, 2026, the Day 1 momentum makes an early closure highly probable. Allotment is strictly on a first-come, first-served basis.
Key Commercial Terms
- Total Issue Size: ₹1,000 crore (₹500 crore base + ₹500 crore greenshoe).
- Effective Yield: Up to 8.90% per annum for the 60-month tenor.
- Credit Ratings: ‘AA-’ (Stable) by both ICRA and CARE Ratings.
- Tenors Offered: 24, 36, and 60 months across eight series.
- Listing: Proposed on both the BSE and NSE.
- Utilization: At least 75% for refinancing existing debt, with the remaining 25% for general corporate purposes.
- Retail Quota: 35% of the issue is earmarked for retail investors.
The fundraising aligns with AEL’s transition into an operational powerhouse. During the roadshow, the company highlighted several 2025 milestones, including the Navi Mumbai International Airport (NMIA), which successfully commenced commercial flight operations on December 25, 2025.
Furthermore, AEL’s digital push is accelerating following the $15 billion AI data center partnership with Google signed in October 2025. In the transport sector, the group operationalized the Nanasa–Pidgaon road project in September 2025 and secured the Sonprayag–Kedarnath ropeway contract, which is expected to cut travel time for pilgrims from 9 hours to 36 minutes upon its 2031 completion.
Summary
Adani Enterprises’ third public NCD issue of ₹1,000 crore was fully subscribed in 45 minutes today, driven by an attractive 8.90% yield. The rapid uptake reflects strong investor confidence in AEL’s execution track record, notably the December 2025 launch of the Navi Mumbai International Airport and its landmark $15 billion AI deal with Google. The proceeds will primarily be used to refinance debt, optimizing the flagship’s balance sheet.
Frequently Asked Questions (FAQs)
Q1: When will the allotment happen?
Since the issue is on a first-come, first-served basis, allotment will be processed quickly after the official closure. Given the Day 1 sell-out, early closure is expected shortly.
Q2: How safe are these NCDs?
The AA- (Stable) rating signifies a high degree of safety regarding timely debt servicing. However, they are corporate bonds, which carry higher risk than government securities or guaranteed bank FDs.
Q3: What is the impact of the share price dip?
The 0.77% dip in AEL’s share price is a minor daily fluctuation in the broader market and does not reflect the success of the debt offering, which was highly oversubscribed.
