Adani sells bonds, 1st since Hindenburg

NEW DELHI: Billionaire Gautam Adani's flagship firm has raised Rs 1,250 crore through a local-currency bond sale, the first since the Hindenburg report sparked a rout in the group's stocks.

In a filing, Adani Enterprises said it has raised Rs 1,250 crore "by allotment of 1,25,000 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs) of the face value of Rs 1 lakh each on private placement basis".

The firm did not disclose the interest rate. Data from NSDL showed the three-year bond carried an annual coupon of 10%. This is the first Adani Group company to tap the local corporate bond market since the Hindenburg row in January . Adani Enterprises had last raised funds via a primary placement of bonds in September last year.