Investor appetite appeared firm at the start of Adani Enterprises’ latest fundraising effort, with its public bond issue drawing heavy interest on the very first day.
Adani Enterprises, the flagship company of the Adani Group, saw its third public bond offering oversubscribed on launch day, according to 2 people directly aware of the transaction. The issue opened earlier in the day and had received bids worth more than double the issue size by 4:30 pm IST.
The company had planned to raise ₹10 billion through the sale of 2-year, 3-year, and 5-year bonds. Sources said subscriptions are likely to close before the originally scheduled January 19 deadline due to strong demand.
Corporates led participation in the issue, oversubscribing their allocated portion by more than 4 times. High net-worth individuals followed, bidding over 1.4 times their reserved portion, while retail investors subscribed more than 1.5 times their earmarked quota.
Adani Enterprises last tapped the public bond market in July 2025, raising ₹10 billion through a similar mix of tenors. Its first public bond issuance took place in September 2024.
Across the broader market, Indian companies issued 34 public bonds in 2025, collectively raising ₹72.56 billion.
For this issue, Adani Enterprises is offering annual coupon rates of 8.60% on 2-year bonds, 8.75% on 3-year bonds, and 8.90% on 5-year bonds. Investors can choose between quarterly interest payouts or a cumulative option.
Nuvama Wealth Management, Trust Investment Advisors, and Tip Sons Consultancy Services are acting as lead managers. Adani Enterprises did not immediately respond to queries seeking comment.
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