Adani Enterprises Secures Rs 700 Crore Funding Through NCD Allotment

12 Oct 2023 , 03:29 PM

Adani Enterprises Ltd, under Gautam Adani’s control, secures Rs 700 crore funding. The funding is obtained by issuing 70,000 secured, unrated, unlisted, non-convertible debentures (NCDs).

Each NCD holds a face value of Rs 1,00,000 and was issued on a private placement basis. This move follows a previous funding round in July where the company raised Rs 1,250 crore through a private placement of NCDs.

Non-convertible debentures are a vital tool for companies to raise long-term capital without collateral, relying on the issuer’s creditworthiness.

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