AEL raises Rs 10 billion via NCDs

Adani Enterprises Limited (AEL) has raised Rs 10 billion through NCDs. The issue achieved a significant milestone by being fully subscribed within 45 minutes. It comprised a base issue of Rs 5 billion with a greenshoe option of an additional Rs 5 billion. AEL received bids for 21.9 million NCDs against an issue size of 5 million. The NCDs offered a yield of 8.9 per cent per annum.