Overview
- The public NCD issue opened on Jan. 6 and was fully subscribed within 45 minutes, with the Rs 500 crore base taken in about 10 minutes and the greenshoe lifting totals to Rs 1,000 crore.
- Adani Enterprises approved early closure on Jan. 7 after the strong response, though the offer had been scheduled to remain open until Jan. 19.
- The secured debentures are rated AA- (Stable) by ICRA and CARE and offer effective yields up to 8.90% across 24, 36 and 60 month options with quarterly, annual or cumulative payouts.
- Company disclosure showed early demand led by non-institutional investors, while institutional bids had not appeared at the time of the snapshot.
- The securities are proposed to list on BSE and NSE with first-come, first-served allotment, and the lead managers are Nuvama Wealth Management, Trust Investment Advisors and Tipsons Consultancy Services.