Daijiworld Media Network = Mumbai
Mumbai, Dec 24: Adani Enterprises Ltd on Wednesday approved a fundraise of up to Rs 1,000 crore through a public issue of non-convertible debentures (NCDs), including an over-subscription option, the company informed stock exchanges.
As per the filing, the proposed issue will comprise NCDs with a face value of Rs 1,000 each, aggregating to Rs 500 crore, along with a green shoe option to retain over-subscription of up to an additional Rs 500 crore, taking the total issue size to Rs 1,000 crore.
The debt fundraising comes close on the heels of Adani Enterprises successfully completing one of the largest rights issues in India’s corporate history, providing added financial flexibility to the Adani Group’s flagship incubator.
The company’s Rs 25,000-crore rights issue closed with a robust 108 per cent subscription, receiving bids for 14.95 crore shares against 13.85 crore shares on offer, according to BSE data. The issue had opened on November 25 and drew significant market attention due to the group’s 74 per cent promoter holding, making public participation critical.
Rights shares were priced at Rs 1,800 per share, with eligible shareholders entitled to three rights shares for every 25 equity shares held. Promoters fully subscribed to their portion, while the public segment was oversubscribed by around 30 per cent, attracting bids for 4.7 crore shares against 3.6 crore shares available. The issue also saw participation from large institutional investors such as GQG Partners, domestic mutual funds, high-net-worth individuals and retail investors.
Under the payment structure, investors were required to pay Rs 900 per share upfront, with the remaining amount to be paid in two instalments of Rs 450 each, scheduled between January 12 and 27, 2026, and March 2 and 16, 2026.
The proceeds from the equity raise are earmarked for debt reduction and capital expenditure, including repayment of shareholder loans. Adani Enterprises’ gross debt stood at Rs 92,065 crore as of September.
The Adani Group has outlined plans for annual capital expenditure of USD 15-20 billion over the next five years, stating that equity infusions and internal cash generation will support asset-backed growth while enabling prudent debt utilisation.
Adani Enterprises continues to expand its presence across sectors such as airports, data centres, green hydrogen manufacturing, copper smelting, roads and PVC manufacturing. Over the past year, the company exited its agri-business joint venture Adani Wilmar Ltd, selling its 44 per cent stake in phases and raising nearly Rs 15,750 crore.