Billionaire Gautam Adani's flagship company intends to raise up to Rs 1,000 crore ($116.77 million) through a retail bond issue that will be open for public subscription next week.
According to reports, the issue, which will be available for subscription from July 9 to July 22, will allow Adani Enterprises to sell two-, three-, and five-year bonds.
Key Highlights
- Adani Enterprises plans to raise ₹1,000 crore through 2–5 year retail bonds, offering attractive coupons.
- Bonds rated AA- by ICRA and CARE Ratings; subscription opens July 9, 2025.
The company will pay an annual coupon of 8.95% on its two-year bonds, 9.15% on three-year bonds, and 9.30% on five-year bonds, with the option to defer interest payments until maturity.
Investors who choose quarterly payouts will receive a coupon of 8.85% on three-year notes and 9.00% on five-year notes, they said.
This is Adani Enterprises' second retail bond sale in a year. In September 2024, it raised Rs 800 crore in its debut public offering of two, three, and five-year bonds at coupons of 9.25%, 9.65%, and 9.90%, respectively, indicating a 30-60 basis point drop in rates across tenors this time.
Icra and Care Ratings have rated the proposed issue AA-, and it includes a Rs 500 crore greenshoe option. Nuvama Wealth Management, Trust Investment Advisors, and Tip Sons Consultancy Services will lead the bond sale, according to the company.
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Last month, the company raised $750 million from a group of international banks. In November, US authorities charged Gautam Adani and his nephew, Sagar Adani, with alleged bribery and misrepresentation of investors in connection with US fundraising.
Last week, Gautam Adani denied any wrongdoing and informed shareholders that no one from the group had been charged under the US Foreign Corrupt Practices Act.
Since Hindenburg Research accused the Adani Group and its 13 offshore investors of improper use of tax havens in 2023, the Securities and Exchange Board of India (SEBI) has been investigating them as well. The group has consistently denied all wrongdoing.
