Adani Enterprises gets CARE A rating on Rs400cr NCD programme; Stock gains over 1.5%

The credit rating agency has also assigned CARE PP-MLD A for Principal Protected Market Linked NCDs worth Rs Rs159.30cr.

May 06, 2021 12:05 IST India Infoline News Service

Adani Enterprises Limited informed the exchanges that CARE Ratings has given a credit rating of CARE A for its Non-Convertible Debentures (NCDs). The credit rating agency has also assigned CARE PP-MLD A for Principal Protected Market Linked NCDs (MLD).

The company has issued listed NCDs of Rs400cr and MLD of Rs159.30cr and has maintained security cover exceeding 100% on the principal amount of NCDs and MLD as on March 31, 2021.

“The NCDs are secured by way of first pari passu charge on all the current assets of the company except those pertaining to the mining division.

The MLD are secured by way of subservient charge on the current assets of the Company except those pertaining to Mining Division,” company said in a regulatory filing on Wednesday.

At around 12.15 pm, Adani Enterprises Ltd was trading at Rs1,288.90 per piece up by Rs21.05 or 1.66% from its previous closing of Rs1,267.85 per piece on the BSE.

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