Adani Enterprises (AEL), the flagship company of the Adani Group, is set to return to the domestic bond market next week, aiming to raise up to ₹1,000 crore through a public issue of secured non-convertible debentures (NCDs). The issue comprises a base size of ₹500 crore, along with a greenshoe option of up to ₹500 crore, which may be exercised depending on investor demand and prevailing market conditions.

This will mark AEL’s third public bond offering. The company last raised ₹1,000 crore in July 2025 through a similar issue across two-, three- and five-year tenors, following its maiden public bond issue in September 2024.

As per reports, the bond issue is set to open on January 6, 2026, and close on January 19, 2026, although it may close earlier if fully subscribed. The bonds will be allotted on a first-come, first-served basis and are expected to close earlier, possibly before January 10, a source close to the development told Fortune India.

The flagship company of the Adani Group will issue bonds with two-, three- and five-year maturities, offering multiple payout options to suit different investor preferences. Around 35% of the issue has been earmarked for retail investors, the source added.

Under the annual interest payout structure, investors will earn 8.60% on two-year bonds, 8.75% on three-year bonds, and 8.90% on five-year bonds. For those opting for quarterly payouts, the coupons are set at 8.48% for the 36-month tenor and 8.62% for the 60-month tenor. A cumulative option will also be available.

The issue has received AA- (Stable) ratings from CARE Ratings and ICRA, reflecting the company’s credit profile.

The proceeds from the latest issue are expected to be used in line with the company’s funding requirements and refinancing plans. An email query sent to Adani Enterprises seeking comment did not receive an immediate response.

In July last year, the company raised ₹1,000 crore through NCDs, offering yields of up to 9.30% across various tenures. The secured, rated and listed redeemable NCDs, which opened for subscription on July 9 and were originally scheduled to close on July 22, saw strong investor demand and closed early on July 11, 2025.

Similarly, Adani Enterprises’ ₹800 crore public NCD issue in September 2024, with a face value of ₹1,000 per debenture, also witnessed robust demand and was closed well ahead of its scheduled closing date.

Last month, Adani Enterprises’ ₹25,000-crore rights issue, which opened on November 25, closed with an oversubscription of 108%. The company received bids for 14.95 crore shares against an offer size of 13.85 crore shares. Following the issue, the Adani Group flagship’s total equity shares will increase from 115.41 crore to 129.26 crore, assuming full subscription.

The proceeds are expected to strengthen the company’s balance sheet and support long-term growth initiatives. Adani Enterprises said the funds will be utilised for debt reduction and capital expenditure, including the repayment of shareholder loans.

Meanwhile, shares of Adani Enterprises were trading at 0.7% at ₹2,276.35, with a market capitalisation of ₹2.62 lakh crore.