At a Glance
Adani Enterprises is back with its second secured NCD issue, offering up to 9.30% p.a. effective yield. Retail investors can grab a slice starting at ₹10,000, with three tenor options and interest paid quarterly, annually, or on maturity. Rated AA- Stable by CARE and ICRA, the issue opens 9 July 2025 and closes 22 July 2025, or sooner if Gautam-bhakts oversubscribe it again (like last time).
🥁 Wait, Adani is Doing Bonds Now?
Well, again.
After a blockbuster ₹800 Cr NCD debut last year (which sold out faster than an iPhone launch), Adani Enterprises Ltd (AEL) is returning with another ₹1,000 Cr public NCD issue.
But here’s the juicy part:
This isn’t just another corporate bond. It’s the only listed NCD from a non-NBFC available for retail investors.
Translation: Retail folks usually get sidelined from corporate debt deals. This one opens the door.
💰 So What’s the Offer?
You have 8 different series to choose from. Here’s a cheat sheet:
| Series | Tenor | Interest Payout | Effective Yield | Final Maturity Value |
|---|---|---|---|---|
| I | 24 months | Annual (8.95%) | 8.95% | ₹1,000 |
| II | 24 months | Cumulative | 8.95% | ₹1,187.01 |
| III | 36 months | Quarterly (8.85%) | 9.14% | ₹1,000 |
| IV* | 36 months | Annual (9.15%) | 9.14% | ₹1,000 |
| V | 36 months | Cumulative | 9.15% | ₹1,300.70 |
| VI | 60 months | Quarterly (9.00%) | 9.30% | ₹1,000 |
| VII | 60 months | Annual (9.30%) | 9.29% | ₹1,000 |
| VIII | 60 months | Cumulative | 9.30% | ₹1,560.30 |
🔗 Minimum investment: ₹10,000 (10 NCDs). No Put/Call option. Allotment: First-Come, First-Served.
🎖️ Who Gave This a Thumbs Up?
- ICRA: AA- (Stable)
- CARE Ratings: AA- (Stable)
Not quite “AAA Superman” but still decent—think of it as “The Batman” of debt: moody, powerful, and not likely to default soon.
👉 CARE even upgraded the rating in Feb 2025. So debt investors from the last issue actually saw capital appreciation — an oxymoron in fixed-income land.
🏗️ Where’s the Money Going?
75%: Debt repayment (because every conglomerate needs some detox)
25%: General corporate stuff (which could mean anything from data centers to possibly buying more media channels… just kidding. Or not.)
📦 Why Should Retail Care?
Let’s compare 👇
| Investment | Effective Yield | Risk |
|---|---|---|
| Adani NCD | Up to 9.30% | Moderate (AA-) |
| Bank FD | 6.5%-7.25% | Low |
| AAA PSU NCD | ~7.5% | Low |
| Stock Market | Who Knows 🌀 | 🤷 |
And unlike a 5-year FD with SBI that gives you a “safe” 6.5% and samosa coupons, this one offers quarterly income at near-double the rate. Tempting, no?
🕵️♂️ But What’s the Catch?
Let’s be honest. It’s not a risk-free gift box.
- It’s not AAA. AA- is decent, but things can change.
- You’re still betting on Adani Enterprises. Which, while diversified, has a long list of infra bets from airports to hydrogen.
- No premature withdrawal. Unlike your toxic relationships, you can’t just exit anytime.
- Interest rate cycle turning? RBI rate cuts = reinvestment risk once these mature.
🧠 EduInvesting Take
You are funding India’s infra dreams—airports, green hydrogen, roads, data centers, and maybe a hyperloop for Gautam’s next TED talk.
And in return, you get:
✅ Secured bonds
✅ Fixed return of up to 9.30%
✅ First dibs (FCFS)
✅ Quarterly income options
✅ Retail-friendly access
But don’t forget:
❌ No early exit
❌ Moderate credit risk
❌ Infra bets are long gestation
🪙 Fair Value & Verdict™
This isn’t a stock, but we can still do the math:
- Effective post-tax yield (assuming 30% slab): ~6.5%-6.8%
- Effective yield (for 20% slab): ~7.4%
- For a retail investor chasing safety + slightly higher returns than FD, this could make sense.
🧾 EduInvesting Verdict™:
“You’re not buying Adani’s dreams. You’re lending him money to build them — with interest.”
Make sure your money doesn’t become collateral damage in the great infra gamble.
✍️ Written by Prashant | 📅 9 July 2025
Tags: Adani Enterprises, NCD, Fixed Income, Retail Bonds, Infra Bonds, AA Rated Debentures, High Yield, Debt Investment, India Infra, Bond Issue, EduInvesting
