Adani Enterprises Limited is the flagship incubator of the Adani Group. On a consolidated basis, it has diversified businesses including solar cell and module manufacturing, commodities trading, airports, roads, water, data centres, mining and related infrastructure.
Multiple annual, quarterly and cumulative series options.
AEL has strong incubation and fund-raising record.
Returns & Cashflow
Units
1
Yearly Interest PayoutPrincipal Paid at Maturity
₹1,020.51Principal Invested
₹96.5Interest earned
₹1,096.5Final Payout
Interest Payout Schedule
Interest payout schedule for selected units, with payout date, interest amount, and principal amount.
Payout Date
Interest (₹)
Principal (₹)
12 Sep 2027
₹96.5
₹1,000
Total
₹96.5
₹1,000
Sign up to view detailed payout schedule
221408.05 CrTotal Assets
₹61,577.66 CrNet worth
1.5xDebt/Equity
Financial Trend
YoY +9.0% ↑
Sign up to view Issuer at a glance
Issuer and structure highlights
Incubation Track
AEL has incubated listed platforms across ports, power, transmission, renewables, gas and AWL.
Financial Flex
Promoter support, rights issue and AWL monetisation strengthen liquidity for capex.
Diversified Ops
Consolidated portfolio spans ANIL, airports, roads, mining, coal trading, copper and data centres.
Security Cover
The issue requires 110% cover over first-ranking pari passu charge on identified loans and advances.
Strong Liquidity
CARE assesses liquidity as strong with cash, fund-raising flexibility and monetisation potential.
Operating Scale
Airports, roads, mining and ANIL provide multiple operating engines across infrastructure sectors.
Key Risks
Large Capex
AEL plans around Rs. 1.29 lakh crore capex over FY26-FY28 across diverse segments.
Regulatory Watch
DoJ and SEC matters are subjudice and adverse outcomes could affect financial flexibility.
Project Risk
New businesses carry execution, technology and ramp-up risks, especially ANIL, PVC and roads.
Commodity FX
Coal trading faces commodity price, forex and working-capital volatility.
Infra Risk
Airports face tariff/regulatory risk and toll roads face traffic-volume risk.
ISIN Mapping
Filename ISIN is not verified inside the prospectus; final series mapping is a source gap.
Sign up to view Strengths & Risk
Summarised from the issuer's disclosures and the rating rationale. Read the full offer document and rating rationale before investing.
CARE AA-/StableICRA AA-/Stable110% security coverPublic issue up to Rs. 1,000 Cr
AA-/ StableCARE Dec-25
Rating rationale summary
CARE AA-/Stable and [ICRA]AA- (Stable) reflect AEL's incubation record, financial flexibility and diversified operations, offset by capex, project and regulatory risks.
Summary points
CARE AA-/Stable assigned to Rs. 3,000 Cr NCDs.
ICRA AA-/Stable assigned to proposed NCDs.
CARE assessed liquidity as Strong.
Securities carry very low credit risk.
Rating history timeline
ICRA Mar-25
ICRA had AA-/Stable rating history in FY2025.
ICRA Dec-25
ICRA assigned AA-/Stable to proposed NCDs.
CARE Dec-25
CARE assigned AA-/Stable to Rs. 3,000 Cr NCDs.
Outlook implications
Stable outlook reflects expected sustenance of operating performance, healthy cash flows, fund-raising record and asset monetisation potential in airports and roads.
Implications for investors
AA-/Stable ratings from two agencies support the credit view, but investors should monitor rating surveillance and any legal/regulatory developments.
Security cover of 110% over identified loans and advances supports structural protection, subject to asset quality and enforceability.
The issue offers annual, quarterly and cumulative options across 24, 36 and 60 months, so cash-flow preference should match the selected series.
Watch for: Large capex execution, regulatory outcomes, leverage, airport tariff risk, road traffic risk and commodity/FX volatility
Rating Drivers
Incubation Record
Positive
Listed platforms created
Liquidity
Strong
Free cash Rs. 7213 Cr
Security Cover
Supportive
110% asset cover
Leverage
Monitored
Debt/PBILDT 4.49x
Capex Risk
Monitored
Rs. 1.29 lakh Cr capex
Regulatory Watch
Monitored
DoJ/SEC subjudice
How this issuer compares to peers
Benchmark yield, balance-sheet strength, and risk indicators against similar issuers to make the credit case easier to validate.
Where it stands out
Diversified infrastructure incubator with AA-/Stable ratings and 110% cover
Diversified Infrastructure Public NCD AA-/Stable Secured 110%CARE cites incubation record, liquidity, ANIL and airport performance while monitoring capex and regulatory risks.
Sign up to view Credit Rating Intelligence
Invest
Selected investment units: 1
Trade & Settlement
Settlement date
22 Oct 2026
Orders placed after 4 PM will be executed on the next business day. Weekends and exchange holidays are skipped.
Totals (For Selected Units)
Price per Unit
₹1,020.51
Investment amount
₹1,020.51
Total Interest
₹96.5
Total Receivable
₹1,096.5
Blogs
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Senior Secured Bond
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