This is Adani’s first public bond issue after last year’s Hindenburg report.
NCDs are rated CARE A+ (Positive) by CARE Ratings Ltd. and offer an effective yield of up to 9.9% per annum across eight series. Investors can participate with a minimum investment of Rs 10,000 or 10 NCDs, with additional investments in multiples of Rs 1,000. The bonds are available in tenors ranging from 2 to 5 years.
Bonds offer a variety of payment structures, including annual, cumulative and quarterly options. The highest yield of 9.9% is offered on 5-year bonds, while shorter 24-month terms offer yields between 9.25% and 9.65%.
These secured NCDs have a security cover of 1.1 times and do not include call or put options. The company had withdrawn the earlier plan of raising Rs 600 crore through government bonds. Capital of Alaska and Nuvama Asset Management They are the organizers of the topic.
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