India's Adani Enterprises eyes $210 mln fundraise via rupee debt, bankers say

Business Recorder reported that Adani Enterprises, the lead company of India's Adani conglomerate, intends to borrow about 20 billion rupees ($210 million) through short-duration bonds. Two merchant bankers with direct knowledge of the transaction said so on Tuesday. One of them indicated that the maturity would fall below five years and the sale might be completed within the current quarter.

Proceeds will go toward general corporate purposes, the bankers added, and the terms are not yet settled. Both sources declined to be named because they lack permission to speak with media outlets. Reuters had sent an email requesting a response, but the company had not answered it at the time of reporting.

The fundraise follows CareEdge Ratings' upgrade of the firm's long-term rating last week, a single notch to AA from AA-. At the start of 2026 the company had raised 10 billion rupees, its third public debt issue after ones in September 2024 and July 2025. Its most recent private corporate debt sale was in October 2025, when it raised 10 billion rupees through bonds with a tenor of two years and six months and a semi-annual coupon of 8.70%.