India's Adani Enterprises plans public bond sale
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Indian billionaire Gautam Adani's flagship company aims to raise 10 billion rupees ($117 million) through the sale of retail bonds, and has filed a draft prospectus for the issue, according to statements on stock exchanges.
This will be the second time within a year that Adani Enterprises (ADEL.NS) will tap the retail bond market. In September 2024, the company raised 8 billion rupees through a public issue, which was its first such debt sale.
The proposed issue includes a greenshoe option of 5 billion rupees.
Nuvama Wealth Management, Trust Investment Advisors and Tip Sons Consultancy Services will be the lead managers for the bond sale.
The tenor, coupon and the launch date have not yet been decided for the bonds that are rated AA- by Icra and Care Ratings.
($1 = 85.4470 Indian rupees)
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