Adani Enterprises to launch Rs 800-crore NCD issue on September 4

Adani Enterprises will come up with its  non-convertible debentures (NCD) issue in the beginning of next month. The Adani Group's flagship firm aims to raise around Rs 800 crore via the debenture sale. The NCD issue will open on September 4, 2024 and end on September 17, 2024. 

The  NCD issue will involve public issue of up to 80,00,000 secured, rated, listed, redeemable, non–convertible debentures (NCDs) of face value of Rs 1,000 each, amounting to Rs 400 crore. There will be an  additional an option to retain over-subscription of up to Rs 400 crore aggregating up to Rs 800 crore.

The NCD issue is the first one since Hindenburg Research allegations last year. The secured redeemable NCDs would be listed on BSE and National Stock Exchange of India (NSE), with BSE being the designated stock exchange.

Adani Enterprises said the date on which the board of directors/or the management committee approves the allotment of NCDs will be determined by the board of directors or the management committee.

"The actual allotment of NCDs may take place on a date other than the deemed date of allotment. All benefits relating to the NCDs including interest on NCDs shall be available to the debenture holders from the deemed date of allotment," it said.

Investors will get an option for debentures with tenures ranging from 24 to 60 months, depending on their preferences. As per the company, interest payments will be made on an annual, quarterly, or cumulative basis based on the specific series of NCDs chosen.