August 29, 2024
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Adani Enterprises NCD August 2024 Details & Guidance
NCD Issue Opens on 4 September 2024
NCD Issue Closes on 17 September 2024
# NCD Review/Guidance is given at the bottom of the post
About the Company:
Adani Enterprises is part of the Adani group, which is among India’s top business houses with an integrated energy and infrastructure platform in India and a long track record of successfully executing large-scale projects. It is one of India’s largest listed business incubators in terms of market capitalisation and are driven by the philosophy of incubating businesses in four core industry sectors –energy and utility, transportation and logistics, consumer, and primary industry. It represents an effective complement of established and developing businesses which address the needs of India. It has, over the years, seeded new business interests for the Adani portfolio, developed them into sizeable and self-sustaining business verticals and subsequently demerged them into independently listed and scalable platforms, thereby unlocking value for its shareholders. It has a demonstrated track record creating sustainable sustainable infrastructure businesses since 1993. It has emerged as an incubator by investing, maturing and eventually demerging various diversified businesses. Since inception, it has incubated sizeable and scalable businesses and successfully listed them, including by way of demergers, as Adani Ports and Special Economic Zone Limited, Adani Power Limited, Adani Energy Solutions Limited, Adani Green Energy Limited, Adani Total Gas Limited and Adani Wilmar Limited. As of June 30, 2024, the Adani portfolio had a market capitalization of Rs.16,200billion (approximately US$194billion) and are one of the largest listed group by market capitalization in India.
Get more details about the company @ https://www.adanienterprises.com/
NCD Promoter:
The Promoters of the company are i) Gautam S. Adani and (ii) Rajesh S. Adani,
NCD Rating
The NCDs proposed to be issued under this Issue have been rated A +/Positive Outlook by CARE Ratings Limited
| Adani Enterprises NCD August 2024 Detail | |
| Issue Open | September 4, 2024 – September 17, 2024 |
| Security Name | Adani Enterprises Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 400.00 Crores |
| Issue Size (Oversubscription) | Rs 400.00 Crores |
| Overall Issue Size | Rs 800.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | CARE A +/Positive by CARE Ratings Limited |
| Tenor | 24, 36, and 60 Months |
| Series | Series I to VIII |
| Payment Frequency | Quarterly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| Institutional | 10% |
| Non-Institutional | 30% |
| HNI | 30% |
| Retail | 30% |
| Adani Enterprises Limited NCD Coupon Rates | ||||||||
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | |
| Frequency of Interest Payment | Annual | Cumulative | Quarterly | Annual | Cumulative | Quarterly | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 9.25% | NA | 9.32% | 9.65% | NA | 9.56% | 9.90% | NA |
| Effective Yield (% per Annum) | 9.25% | 9.25% | 9.65% | 9.65% | 9.65% | 9.90% | 9.89% | 9.90% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,193.56 | Rs 1,000 | Rs 1,000 | Rs 1,318.34 | Rs 1,000 | Rs 1,000 | Rs 1,603.62 |
Adani Enterprises NCD August 2024 Details & Guidance
Objects of the Issue
The Company proposes to utilise the Net Proceeds towards the funding of the following objects:
- Prepayment or repayment, in full or in part, of the existing indebtedness availed by our Company; and
- General corporate purposes.
.
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| Company Financials | |||
| Adani Enterprises Limited Financial Information (Restated Consolidated) | |||
| Period Ended | 31 March 24 | 31 March 23 | 31 March 22 |
| Assets | 160,731.85 | 141,487.82 | 101,760.19 |
| Revenue | 98,281.51 | 138,175.12 | 70,432.69 |
| Profit After Tax | 3,335.27 | 2,421.60 | 787.7 |
| Amount in Rs Crore | |||
Address of the Company
Adani Enterprises Limited
Adani Corporate House, Shantigram,
, Near Vaishno Devi Circle, S. G. Highway
Khodiyar, Ahmedabad 382 42
NCD Lead Managers
Trust investments Advisors ltd
A.K. Capital services ltd
Nuvama Wealth management ltd
NCD Registrar
Linkintime India Pvt. Limited
Adani Enterprises NCD August 2024
Subscription Status on September 04, 2024, 5.00 pm
| Category | Subscription |
| Retail | 0.00 X |
| HNI | 0.00 X |
| Non-Institutional | 0.00 X |
| Institutional | 0.00 X |
| Total | 0.00 X |
Adani Enterprises NCD August 2024
Adani Enterprises NCD August2024 Review by Paresh Gordhandas, CA & Research Analyst
1. Adani Enterprises is part of the Adani group, which is among India’s top business houses with an integrated energy and infrastructure platform in India and a long track record of successfully executing large-scale projects. It is one of India’s largest listed business incubators in terms of market capitalisation and are driven by the philosophy of incubating businesses in four core industry sectors –energy and utility, transportation and logistics, consumer, and primary industry.
2. The NCDs proposed to be issued under this Issue have been rated A +/Positive Outlook by CARE Ratings Limited
3. The company has extra strong track record of project implementation and efficient management of mega projects. The debt equity ratio is very reasonable, looking to the pace at which the group is growing. Interest rates offered on this NCD are attractive.
4. I recommend investment in this NCD.
