Adani Enterprises Announces ₹800-Crore NCD Issue

Company to Utilize Proceeds for Refinancing Existing Debt, Other Capital Expenditure

Key Highlights

• Adani Enterprises, a leading diversified conglomerate, has announced a ₹800-crore non-convertible debenture (NCD) issue.
• The NCDs will have a face value of ₹1,000 each with a maturity period of 10 years.
• The company plans to utilize the proceeds of the issue to refinance existing debt and fund other capital expenditure.

The NCD issue is part of Adani Enterprises' strategy to optimize its capital structure and reduce its cost of debt. The company has a strong track record of financial performance and is well-positioned to benefit from India's growing economy.

The NCDs will be offered in two tranches, with the first tranche of ₹400 crore opening for subscription on March 8, 2023, and the second tranche of ₹400 crore opening on March 15, 2023.

Adani Enterprises is a leading player in various sectors, including energy, logistics, and agribusiness. The company has a strong presence in India and is also expanding its operations globally.

Why is this News Important?

• The NCD issue is a significant development for Adani Enterprises as it will allow the company to raise funds at a competitive cost.
• The NCDs will also help the company to refinance its existing debt and reduce its interest costs.
• The issue is also a sign of confidence in the company's future prospects.