Adani Enterprises NCD 2026: 8.9% Yield, Secure Options for Retail Investors | Apply Now

Adani Enterprises Limited has launched a new public issue of secured NCDs offering fixed interest in the range of about 8.48% to 8.90% p.a. with tenors of 24, 36 and 60 months, targeted significantly towards retail investors.

This blog post explains the issue in simple language and helps you decide whether it fits your fixed-income allocation as a retail investor.

Note: This is not a recommendation; investors should read the Prospectus and consult their advisor before investing.

Key NCD Highlights

• Issuer: Adani Enterprises Limited (AEL), part of the Adani Group, one of India’s large listed business incubators with businesses across energy, utilities, transport, logistics and other sectors.
• Instrument type: Secured, rated, listed, redeemable, non-convertible debentures (NCDs).
• Issue size: Base issue of ₹500 crore with green shoe option of ₹500 crore, aggregating up to ₹1,000 crore.
• Face value / Issue price: ₹1,000 per NCD.
• Minimum application: 10 NCDs (₹10,000) and in multiples of 1 NCD thereafter.
• Tenor options: 24, 36 and 60 months across 8 series with annual, quarterly and cumulative choices.
• Coupon range (fixed rate): Approx. 8.48% to 8.90% p.a. depending on series and frequency.
• Effective yield: Up to about 8.90% p.a. for the longest tenor / cumulative options.
• Security: Secured to the extent of at least 110% of principal and interest, monitored by the debenture trustee (recovery still depends on market conditions at enforcement time).
• Listing: Proposed on BSE & NSE; trading only in demat mode.
• Ratings: CARE AA- (Stable) by CARE Ratings and [ICRA]AA- (Stable) by ICRA, indicating high degree of safety and very low credit risk, though ratings are opinions and can be revised/withdrawn.

Issue Timeline & Categories

• Issue opening date: Tuesday, January 6, 2026.
• Issue closing date: Monday, January 19, 2026 (may close earlier or be extended as per SEBI rules and company decision).
• Allotment basis: First-come-first-serve (date-priority) basis, except on the day of oversubscription and thereafter when proportionate allotment will apply.

Allocation across investor categories:

Category	Allocation of issue	Base (₹ crore)	Total (₹ crore)
Institutional Investors (Cat I)	5%	25	50
Non-Institutional (Cat II)	25%	125	250
HNI (Cat III)	35%	175	350
Retail (Cat IV)	35%	175	350

Retail Individual Investors are resident individuals / HUFs applying up to ₹10,00,000 across all series (with smaller bids up to ₹5,00,000 via UPI also included in this category).

Interest Options & Tenors

The issue offers 8 series combining three tenors and different payout styles. Retail investors can choose based on cash flow needs (regular income vs growth through compounding).

Tenor and coupon snapshot (for all categories):

Series	Tenor	Interest payout	Coupon (% p.a.)	Effective yield (% p.a.)	Maturity value per ₹1,000
I	24 months	Annual	8.60	8.60	₹1,000
II	24 months	Cumulative	NA	8.60	₹1,179.40
III	36 months	Quarterly	8.48	8.75	₹1,000
IV*	36 months	Annual	8.75	8.74	₹1,000
V	36 months	Cumulative	NA	8.75	₹1,286.45
VI	60 months	Quarterly	8.62	8.90	₹1,000
VII	60 months	Annual	8.90	8.89	₹1,000
VIII	60 months	Cumulative	NA	8.90	₹1,531.95

*If an investor does not indicate the series, Series IV (36 months – annual) will be allotted by default.

Key points for retail clients:

• For regular income, quarterly (Series III, VI) or annual options (Series I, IV, VII) can provide predictable cash flows.
• For growth/wealth creation within fixed income, cumulative options (Series II, V, VIII) reinvest interest and pay a higher lump sum on maturity.

Who Can Apply

Eligible investors include:

• Resident individuals and HUFs (Retail and HNI categories).
• Various institutions such as banks, mutual funds, insurance companies, AIFs, provident funds, pension funds and other eligible entities, subject to their internal rules.

Key operational points for retail clients:

• Investment is in demat form only; trading is also only in demat.
• Market lot/trading lot is 1 NCD of ₹1,000.
• Record date for interest/redemption is 15 days before the relevant payment date; trading may be suspended between record date and redemption date as per regulations.

Understanding the Risks

While the NCDs are rated AA- (Stable) and are secured, they are not risk-free. A retail investor should be aware of the following:

• Credit risk: Repayment depends on the financial strength of Adani Enterprises Limited; ratings are opinions, not guarantees, and can be revised or withdrawn.
• Market & liquidity risk: Although the NCDs are proposed to be listed, actual liquidity on exchange can vary; exit before maturity may involve price risk.
• Interest rate risk: If market interest rates rise, the price of the NCDs on exchange could fall, impacting interim sale value.
• Recovery risk despite security: Security cover is 110% of principal and interest, but recovery in a stress scenario will depend on the value and enforceability of the charged assets at that time.
• Regulatory and operational risks: Any delays in allotment, listing, interest or redemption may attract additional interest as per regulations, but still represent a risk to timing of your cash flows.

Retail investors should read the detailed “Risk Factors” and “Material Developments” sections in the Prospectus dated December 29, 2025 before investing.

Is This NCD Suitable for You?

This NCD issue may be relevant for retail investors who:

• Seek higher fixed returns than typical bank FDs and are comfortable with credit and market risk.
• Want defined tenors of 2, 3 or 5 years to match specific goals (children’s education tranches, EMIs buffer, near-term financial goals).
• Prefer known payout structures (quarterly/annual or cumulative) with visible cash flow schedules.

It may be less suitable if:

• You need fully risk-free capital (then government-backed options like sovereign bonds, small savings schemes may be more appropriate).
• You may need money at short notice and cannot hold the debentures till maturity.

A proper asset allocation and risk assessment with a financial planner is crucial before any allocation.

How a Financial Planner Can Help

As a retail investor, reading a long prospectus and comparing multiple series can be confusing and time consuming. A qualified financial planner / mutual fund distributor can add value in several ways:

• Map your goals and risk profile to decide whether NCDs like this should be part of your debt allocation at all.
• Help you choose the right series (tenor and payout option) based on your cash flow needs (monthly EMIs, education fees, retirement income, etc.).
• Evaluate portfolio concentration so that your exposure to any one group, issuer, sector or rating category remains prudent.
• Assist with application execution, demat-related checks, monitoring allotment, listing and tracking interest/redemption.

Ready to Explore?

If you are considering the Adani Enterprises NCD issue and want a personalised view for your portfolio, you can:

• Book a free 1:1 call to understand whether these NCDs fit your goals, risk profile and existing holdings. Book an Appointment Online
• Share your details (name, city, email, mobile, and approximate investment amount) so that we can guide you on suitability and series selection.
• Get help with the end-to-end application process (online or offline) and post-investment tracking.

Call to Action:
If you are a retail investor looking for higher-yield fixed-income options and want help evaluating this NCD issue for your portfolio, reach out today using the contact form or WhatsApp/call to get a detailed, no-obligation consultation.

Important: Investors must apply only after reading the Prospectus dated December 29, 2025, especially sections titled “Risk Factors”, “Issue Related Information” and “Terms of Issue”, and after ensuring eligibility under applicable regulations.