Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has announced its third public issue of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs) with an aggregate issue size of up to ₹1,000 crore. The issue offers attractive fixed returns up to 8.90% p.a., making it a notable option for income-oriented investors.
With expectations of softer interest rates in upcoming RBI policy reviews, such fixed-income instruments provide an opportunity to lock in relatively higher yields.
Key Highlights of the NCD Issue
| Particulars | Details |
|---|---|
| Issuer | Adani Enterprises Limited |
| Issue Type | Secured, Redeemable, Non-Convertible Debentures |
| Base Issue Size | ₹500 crore |
| Green Shoe Option | ₹500 crore |
| Total Issue Size | Up to ₹1,000 crore |
| Issue Opening Date | 6 January 2026 |
| Issue Closing Date | 19 January 2026 (subject to early closure) |
| Face Value | ₹1,000 per NCD |
| Minimum Application | 10 NCDs (₹10,000) |
| Credit Rating | AA- (Stable) by CARE & ICRA |
| Security | Secured |
| Listing | BSE & NSE |
| Use of Proceeds | Debt repayment/prepayment and general corporate purposes |
| Maximum Yield | Up to 8.90% p.a. |
Series-Wise Structure of Adani Enterprises NCDs
The issue is divided into multiple series, providing flexibility in tenure and interest payout options.
| Series | Tenure | Interest Payment Frequency | Indicative Yield (% p.a.) |
|---|---|---|---|
| Series I | 24 Months | Annual | ~8.60% |
| Series II | 24 Months | Cumulative | ~8.60% |
| Series IV | 36 Months | Annual | ~8.75% |
| Series V | 36 Months | Cumulative | ~8.75% |
| Series VII | 60 Months | Annual | Up to 8.90% |
| Series VIII | 60 Months | Cumulative | Up to 8.90% |
Note: Actual yields are subject to final allocation and terms mentioned in the offer document.
Interest Options Explained
- Quarterly Option: Suitable for investors seeking regular income
- Annual Option: Balanced option for yearly cash flows
- Cumulative Option: Ideal for long-term investors focusing on capital appreciation
The cumulative series are especially attractive for investors planning future financial goals.
Credit Quality & Investor Protection
- AA- (Stable) rating reflects a high degree of safety
- Secured NCDs provide asset backing
- Exchange listing enhances transparency and potential liquidity
These factors make the issue relatively stronger compared to unsecured or unrated debt instruments.
Who Should Consider This NCD?
- Conservative investors seeking predictable returns
- Investors looking to diversify beyond bank FDs
- Individuals planning stable income or long-term accumulation
- Portfolios requiring high-quality corporate debt exposure
Conclusion
The Adani Enterprises 3rd NCD issue stands out due to its structured series options, competitive yields, strong credit rating, and secured nature. It offers flexibility to meet different investment objectives—whether income generation or long-term growth.
As always, investors should carefully review the offer document and consult their financial advisor before investing.
⚠️ Disclaimer
This article is for informational purposes only. Investors should refer to the full Prospectus dated 29 December 2025 before investing. Fixed-income securities carry credit and market risk. Consult your financial advisor for personalized investment advice.
