Adani Enterprises Shocks Market with Early ₹800 Crore NCD Closure – What It Means for Adani Group Shares and Retail Investors

On Thursday, Adani Enterprises announced the early closure of its ₹800 crore non-convertible debentures (NCDs) issue. The company decided to close the public issue on September 6, ahead of its original closing date of September 17.

In a statement filed with the stock exchange, the company mentioned that its Board of Directors approved this decision on September 5, 2024. The early closure complies with the Securities and Exchange Board of India (SEBI) regulations.

Adani Enterprises shares rose slightly by 0.08%, closing at ₹3,014.85 on Thursday, compared to the previous close of ₹3,012.50. The company revealed the early closure of the NCD issue after market hours.

The public issue involved 80 lakh secured, rated, and redeemable non-convertible debentures, each with a face value of ₹1,000, amounting to ₹400 crore. There was also an option to accept additional subscriptions of up to ₹400 crore, bringing the total to ₹800 crore.

Adani’s Retail Fundraising Plans:

According to a Moneycontrol report, Adani Group also aims to raise nearly ₹40,000 crore from retail investors over the next three to four years. This plan is part of the group’s strategy to diversify its funding sources and reduce its dependence on loans from a limited group of lenders, such as public and private banks. The group plans to launch similar public NCD issues for other companies under its umbrella.