Adani Enterprises Limited has informed the Exchange regarding 'Intimation under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ( SEBI Listing Regulations ) in relation to the public issue of non-convertible debentures'.
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Adani Enterprises is moving ahead with its public NCD issuance plan first approved by the board on October 29, 2024, for up to ₹2,000 crores. On June 25, 2025, the management committee approved the draft prospectus for the first tranche of ₹500 crores, with a greenshoe option to retain over-subscription up to an additional ₹500 crores, taking the initial issue size to up to ₹1,000 crores. Each NCD carries a face value of ₹1,000. The draft prospectus has been filed with BSE, NSE, and SEBI. The remaining ₹1,000 crores of the originally approved ₹2,000 crore limit is likely to be raised through subsequent tranches.
This is a debt-raising move rather than equity dilution, so existing shareholders won't see their stakes reduced. The size of up to ₹1,000 crores will boost the company's borrowing capacity for funding capex or refinancing, though actual interest cost for investors will depend on the coupon rate to be disclosed in the final prospectus.