Adani Enterprises’ NCD release worth Rs 1,000 crore sold out within 45 minutes. Details here

Adani Enterprises’ public issue of non-convertible debentures (NCDs) worth Rs 1,000 crore was fully subscribed within 45 minutes of opening, the company said on Tuesday. The base issue of Rs 500 crore was picked up in just 10 minutes, reflecting strong investor appetite for high-rated corporate bonds in early 2026.The Adani Group’s flagship company said bids for its secured NCD offering poured in soon after the issue opened at 10.21 am on January 6, taking its total subscriptions to Rs 1,000 crore in less than an hour. The quick sell-out comes despite the fact that the issue would remain open until January 19, with allocation on a first-come, first-served basis.

Strong demand led by non-institutional investors

The subscription data released by the company showed that demand was dominated by non-institutional investors, who had submitted bids worth Rs 651.45 crore by mid-morning. High net worth individuals subscribed to Rs 71.90 crore, while private investors placed bids worth Rs 87.15 crore. The disclosure showed that institutional investors had not yet made an offer at that time.
The total bid stood at Rs 810.50 crore at the time of the snapshot, even though the issue was fully subscribed within minutes.

Details of the issue and pricing

Adani Enterprises planned to raise Rs 1,000 crore through the public issue, with an additional Rs 500 crore greenshoe option available in case demand proves strong. The bonds were offered with maturities of two, three and five years, with annual coupons of up to 8.9%.

Under the annual payout option, the two-year bonds offer a coupon of 8.60%, the three-year bonds 8.75% and the five-year bonds 8.90%. Investors also have the option of quarterly interest payments or a cumulative structure. The issue is rated CARE AA- (Stable) and ICRA AA- (Stable).

This is Adani Enterprises’ third public bond sale, following issuances in September 2024 and July 2025, as major Indian conglomerates tap domestic debt markets to secure funding early in the year. Nuvama Wealth Management, Trust Investment Advisors and Tipsons Consultancy Services are acting as arrangers for the issuance.

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