January 5, 2026
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Adani Enterprises NCD January 2026 Details & Guidance
NCD Issue Opens on 6 January 2026
NCD Issue Closes on 19 January 2026
# 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, into strong and independent companies, including Adani Ports, Adani Power, Adani Energy Solutions, Adani Green Energy, Adani Total Gas, and AWL Agri Business. As of September 30, 2025, the Adani Group’s total market value was about Rs 13,585 billion.
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
| S.No. | Rating Agency | NCD Rating | Outlook | Safety Degree | Risk Degree |
| 1 | CARE Ratings Limited | AA- (Stable) | Stable | High degree of safety | Very low credit risk |
| 2 | ICRA Limited | AA-/Stable | Stable | High degree of safety | Very low credit risk |
Adani Enterprises NCD July 2025 Details
| Issue Open | January 6, 2026 – January 19, 2026 |
| Security Name | Adani Enterprises Limited |
| Security Type | Secured NCDs |
| Issue Size (Base) | Rs 500.00 Crores |
| Issue Size (Oversubscription) | Rs 500.00 Crores |
| Overall Issue Size | Rs 1,000.00 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 |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
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NCD’s Allocated (%) | |
| Institutional | 5.00% | |
| Non-Institutional | 25.00% | |
| HNI | 35.00% | |
| Retail | 35.00% | |
| Total | 100.00% |
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 | 36 Months | 36 Months | 36 Months | 60 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.60% | NA | 8.48% | 8.75% | NA | 8.62% | 8.90% | NA |
| Effective Yield (% per Annum) | 8.60% | 8.60% | 8.75% | 8.74% | 8.75% | 8.90% | 8.89% | 8.90% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,179.40 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,286.45 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,531.95 |
Adani Enterprises NCD July 2025 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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Adani Enterprises Limited Financial Information
| Period Ended | 30-Sep-25 | 31-Mar-25 |
| Assets | 2,21,408.05 | 1,98,135.54 |
| Total Income | 44,280.69 | 1,00,365.08 |
| Profit After Tax | 4,390.91 | 8,004.99 |
| NET Worth | 56,470.45 | 61,577.66 |
| Reserves and Surplus | 47,574.55 | 51,316.91 |
| 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
Investor.ael@adani.com
NCD Lead Managers
Nuvama Wealth management ltd
Trust investments Advisors ltd
Tipsons Consultancy Services Pvt ltd
NCD Registrar
Mufg Linkintime India Pvt. Limited
Adani Enterprises NCD – January 2026 Review
Adani Enterprises Limited is the flagship incubator of the Adani Group, operating across energy, transport, logistics, consumer and primary industries with a proven record of value creation through demergers.
The January 2026 NCD issue comprises secured NCDs with an overall issue size of Rs 1,000 Cr, offering tenors ranging from 24 to 60 months.
The issue is rated AA- (Stable) by CARE Ratings and ICRA, indicating a high degree of safety with very low credit risk.
Effective yields range from 8.60% to 8.90%, which are attractive in the current interest-rate environment for high-quality corporate debt.
Proceeds will primarily be used for repayment/prepayment of existing debt and general corporate purposes, aiding balance-sheet optimisation.
The company has a strong asset base of over Rs 2.21 lakh crore and established access to capital markets.
Allocation is skewed towards HNI and Retail (70% combined), indicating good participation opportunities for individual investors.
Overall, this NCD suits moderate-risk investors seeking stable income from a reputed business group.
Chanakya View: Suitable for debt allocation with a 2–5 year horizon, preferring secured and highly rated instruments.
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