Adani Enterprises NCD Issue Brings Powerful 8.90% Returns
Newzdaddy Business Updates
Adani Enterprises Limited has announced its third public issue of secured, rated and listed non-convertible debentures worth up to ₹1,000 crore, opening on 6 January 2026 and closing on 19 January 2026. The issue offers an effective yield of up to 8.90 per cent per annum, which places it among the higher-yielding options currently available to retail investors in the fixed-income space. This comes at a time when many banks have begun trimming fixed deposit rates following recent policy rate cuts, making well-rated corporate bonds more attractive for those seeking steady returns.
The NCDs carry an ‘AA-’ rating with a Stable outlook from both ICRA Limited and CARE Ratings Limited. In simple terms, this rating shows that independent agencies believe the company has a strong ability to meet its payment obligations on time. While no investment is completely risk-free, securities in this category are considered to have very low credit risk compared to most corporate debt products available to retail investors in India.
The total issue size of ₹1,000 crore comprises a base issue of ₹500 crore and a green shoe option of up to an additional ₹500 crore. The green shoe option allows the company to accept more money if demand is strong, which has been the case in the past. Adani Enterprises’ previous NCD issue in July last year was fully subscribed within just three hours on the first day, showing strong interest from individual and non-institutional investors. Such a quick subscription is often seen as a sign of investor confidence in both the issuer and the pricing of the instrument.
These NCDs are proposed to be listed on both the BSE and the NSE. Listing gives investors an exit option before maturity, subject to market conditions and liquidity. While many retail investors hold bonds till maturity, the option to sell on an exchange adds flexibility, especially in times of personal financial need.
The issue is open on a first-come, first-served basis, which means early applicants have a better chance of full allotment. Each NCD has a face value of ₹1,000, with a minimum application size of ₹10,000. This relatively low entry point allows small investors to participate without locking in very large sums.
The company has stated that at least 75 per cent of the funds raised will be used to repay or prepay existing debt, along with any related interest. Using fresh funds to reduce debt is generally seen as a positive step, as it can improve a company’s balance sheet and lower interest costs over time. The remaining amount will be used for general corporate purposes, which may include operational needs and future project planning.
Adani Enterprises is known as the flagship company of the Adani Group and operates as a business incubator. Over the years, it has played a key role in developing large infrastructure assets that are later housed in separate listed entities. This model has helped the group build businesses across sectors such as airports, roads, data centres and green energy.
In the last six months alone, the company has reported several major project milestones. The inauguration and start of operations at Navi Mumbai International Airport marked a significant step in easing congestion at Mumbai’s existing airport and boosting regional connectivity. The partnership announced between Google and AdaniConnex to develop a large AI data centre campus in Visakhapatnam highlights India’s growing demand for digital infrastructure and clean energy-backed data facilities. The operationalisation of the Nanasa-Pidgaon road project and the award of new road and ropeway projects also underline the company’s active role in transport infrastructure development.
The NCDs are offered in multiple tenors of 24, 36 and 60 months, with options for quarterly, annual or cumulative interest payments. This allows investors to choose a structure that best suits their cash flow needs. For example, retirees may prefer regular quarterly income, while younger investors might opt for cumulative options that pay a lump sum at maturity.
Lead managers to the issue include Nuvama Wealth Management, Trust Investment Advisors and Tipsons Consultancy Services, all of whom have experience in handling public debt offerings. Their role includes marketing the issue, managing subscriptions and ensuring regulatory compliance.
Overall, this NCD issue offers retail investors a chance to earn predictable income from a well-known infrastructure-focused company at yields that are higher than many traditional savings options. While investors should always consider their own risk tolerance and investment horizon, the combination of strong ratings, clear use of funds and a proven track record of subscription interest makes this issue a notable event in the current bond market.
