Adani Enterprises Announces First Public Issue of Secured Non-Convertible Debentures

• The issue will open on Wednesday, September 4, 2024 and close on Tuesday, September 17, 2024.
• CARE A+ by NCD Care Ratings Limited; Has a rating of Positive (Single A Plus; Outlook: Positive).
• Effective yield up to 9.90 percent per annum*
• Quarterly, Annual and Cumulative options available
• 10 times security cover
• Scheme of listing of NCDs on BSE Limited and NSE Limited
• Trading can be done only in dematerialized mode
• Allotment on first come first serve basis**

Ahmedabad, August 29, 2024 – Adani Enterprises Limited (“The Company” or “AEL”), the flagship company of the Adani Group and one of India's largest business incubators by market capitalization with a long track record of building sustainable infrastructure businesses since 1993, has issued its first secured, rated, listed redeemable, non-convertible Announced the launch of public issue of debentures.

Adani Enterprises Limited Announces Maiden Public Issuance of Secured Non-Convertible Debentures

The issuing NCD has been rated “CARE A+; Positive (Single A Plus; Outlook: Positive)” has been rated. Securities with these ratings are considered to have adequate security for meeting financial obligations on time. Such securities carry less credit risk.

AEL's offering will consist of up to 80,00,000 Non-Convertible Debentures (“NCDs” or “Debentures”) each having a face value of Rs. 1,000 will be. Base Issue Size Rs. 400 crore in which an additional Rs. Option to maintain over-subscription up to Rs 400 crore (“Green Shoe Option”) with a total value of Rs. 800 crore will be up to (“Issue” or “Issue Size”). The issue will open on September 04, 2024 and close on September 17, 2024 with an option to close earlier or extend.

Minimum application size of each application for NCD in all series combined is Rs. 10,000 and thereafter Rs. will be in multiples of 1,000.

The proceeds of the issue will be used mainly for prepayment or repayment (at least 75 per cent) of existing debt incurred by our company in whole or in part and for general corporate purposes (up to 25 per cent) which are permitted by the Securities and Exchange Board of India (issuance and listing of non-convertible securities). (doing) Regulations, 2021 and in accordance with the amendments made from time to time (“SEBI NCS Regulations“).

Trust Investment Advisors Private Limited, AK Capital Services Limited and Nuwama Wealth Management Limited are the lead managers of the issue.

These NCDs are available in tenors of 24 months, 36 months and 60 months with quarterly, cumulative and annual interest payment options in all eight series.

*The Company shall allocate and allot Series IV NCDs (36 months Annual Interest Payment option) wherein the Applicants have not indicated the choice of the relevant NCD Series.

About Adani Enterprises Limited (AEL)

The Adani Group is among India's top business house incubators in terms of market capitalization and is driven by the philosophy of incubating businesses in four core industry sectors – energy and utility, transportation and logistics, consumer, and primary industry. Over the years, AEL has seeded new business interests for the Adani portfolio, developed them into sizeable and self-sustaining business verticals, and subsequently demerged them into independently listed and scalable platforms, thereby unlocking value for its shareholders. Since its inception, AEL has incubated some of India's most scalable businesses and successfully listed them, including by way of demergers, as Adani Ports and Special Economic Zone Limited, Adani Power Limited, Adani Energy Solutions Limited, Adani Green Energy Limited, Adani Total Gas Limited and Adani Wilmar Limited. As of 30 June 2024, the Adani portfolio had a market capitalization of ₹16,200 billion (approximately US$194 billion) and is one of the largest listed groups by market capitalization in India.

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