New Delhi, 9 July (IANS). Adaani Enterprises Limited (AEL) has been completely subscribed within three hours of opening on Wednesday, a safe, rated and listed redeemable, redeemed and listed redeemable, listed and listed redeemed worth of Rs 1,000 crore.
This was the second public NCD issue of Adani Enterprises.
According to the data on the stock exchange, the Bonds issue had received more than Rs 1,400 crore bids by 15.30 pm.
The offer was on the first come, first served basis, which saw the participation of the entire non-institutional segment including retail investors, high net vertical individuals (HNIs) and corporates.
The issue was to be closed on July 22, but it is likely to close quickly due to being completely subscribed.
According to market experts, the matter that makes this bond issue different is a strong participation of non-institutional segments, retail HNIs and corporate investors. The reason for this is the company’s Aadhaar and credit profile to be strong.
According to India’s largest listed business incubator in terms of Adani Group’s flagship company and market capitalization, the base size of the issue is Rs 500 crore, with an option to maintain over-seminal for an additional Rs 500 crore (green shoe option), which leads to Rs 1,000 crore.
The face value of each NCD is Rs 1,000. Each application will have to apply for minimum 10 NCDs. The minimum application amount will be Rs 10,000.
According to the company, NCDs offer competitive yields compared to similar rating NCDs and fixed deposits and are proposed to list them on BSE and NSE. The proposed NCD has received the “Care AA-; Stable” and “(ICRA) AA-(Stable)” rating.
The company said that NCDs are available in a period of 24 months, 36 months and 60 months, with the quarter, annual and cumulative interest payment options in eight series.
-IANS
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