General
Mumbai: Adani Enterprises Tuesday raised ₹1,000 crore through non-convertible debentures (NCD) with ICICI Prudential Mutual Fund taking an anchor allocation of ₹300 crore. The NCDs offer interest of 8.7%. Funds raised from the bond issue will be used to repay existing debts, support subsidiaries through inter-company loans, and cover general corporate expenses.
The debentures have been rated ‘AA-; Stable’ by Icra. The NCDs have tenors of around two to three years, carrying fixed coupon payments. The base issue size was ₹1,000 crore with no green-shoe option.
Adani Enterprises’ debt repayments in excess of ₹5,000 crore are scheduled in FY26, including bullet repayments of around ₹3,300 crore in the first half. The company is adequately placed to meet these obligations through a mix of operational cash flows and timely refinancing, said Icra.