Adani Enterprises aims to raise ₹1,000 crore via bond sales, says report

Last seen, shares of Adani Enterprises were trading down 0.28% on the National Stock Exchange at ₹2,612 apiece.

The report further stated that the company will pay an annual coupon of 8.95% on its two-year bonds, 9.15% on three-year bonds and 9.30% on five-year bonds. It will also have an option to defer interest payment to maturity.

Further, for investors opting for quarterly payouts, the coupon will be 8.85% on three-year and 9.00% on five-year notes, the report added.

There has been no official announcement from Adani Enterprises on the development.

Last week, Gautam Adani shared plans to invest a record $15-20 billion across businesses over the next five years to chart out the next phase of growth. He also outed the conglomerate's strong balance sheet and robust business to shrug off relentless scrutiny it faces.

Addressing the group's annual general meeting virtually, he referred to the recent indictment by the US authorities in an alleged bribery scheme to win lucrative renewable energy supply contracts, saying no one from Adani Group has been charged with violating the US Foreign Corrupt Practices Act (FCPA) or conspiring to obstruct justice.

Adani Enterprises Limited (AEL) had reported a net profit of ₹3,845 crore in the January-March quarter, marking an increase of 752% from ₹451 crore logged in the same period last year.

Its revenue from operations, however, declined 7% to ₹27,601.64 crore as against ₹29,630 crore seen in the year-ago period.

The company's operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), rose 19% to ₹4,346 crore at the end of the March quarter from ₹3,646 crore in the year-ago period. Its operating profit margin improved by 340 basis points to 15.74% from 12.30%.