Adani Enterprises NCD offer to close early as investors are subscribing heavily

The NCD offer of Adani Enterprises, the flagship company of the Adani Group, is closing today, about 10 days before the scheduled time. In such a situation, today is the last chance for investors to buy Adani bonds.

Due to this reason the offer is closing 10 days earlier

Adani Enterprises launched its NCD issue on Wednesday. The subscription for this was earlier going to remain open till 17 September. However, in just two days, the issue has received tremendous response from investors, especially retail investors. Due to this, Adani’s flagship company has decided to close the offer today on 6 September, about 10 days before the scheduled time.

Investors are getting so much return

This bond issue of Adani Enterprises was oversubscribed by 221 per cent in the first two days till Thursday. Retail investors have welcomed it. Adani Group is offering an annual return of 9.25 per cent to 9.90 per cent on this non-convertible debenture (NCD) issue of its flagship company. The rate of return and the interval of payment of interest differ according to the tenure of the NCD.

Plans to raise up to Rs 800 crore

Adani Enterprises has offered 8 lakh NCDs in this issue. The face value of each NCD is Rs 1,000. The original size of the issue is Rs 400 crore, while the company has kept a green-shoe option of up to Rs 400 crore. That is, in case of oversubscription, the size of the issue can be expanded by an additional Rs 400 crore, which makes the total size of the NCD issue Rs 800 crore.

You can subscribe by investing 10 thousand rupees

In this NCD issue, investors will have to subscribe to at least 10 units. That is, investors need at least Rs 10,000 to subscribe to this issue of Adani Enterprises. The company has said that it will use at least 75 percent of the funds raised from the NCD issue to repay old loans. The remaining 25 percent can be used to meet general corporate needs.

CARE Ratings gave positive outlook

CARE Ratings has given CARE A+ rating with positive outlook to the NCD issue of Adani Enterprises. Today, after the news of premature closure of the NCD offer, the stock of Adani Enterprises is in slight loss. On the last day of the week, Adani’s flagship stock was in loss of about one percent at 11 am and had slipped below Rs 3 thousand.

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