Adani Enterprises Ltd (AEL) on Wednesday (October 11) said it has successfully secured ₹700 crore in funding through a strategic move of allotting 70,000 secured, unrated, unlisted, redeemable, non-convertible debentures (NCDs).

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"...we would like to inform that the company has raised ₹700 crore today i.e. 11th October 2023 by allotment of 70,000 Secured, Unrated, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 1,00,000 each on private placement basis," according to a stock exchange filing.

These NCDs, each having a face value of ₹1,00,000, were issued on a private placement basis, the company added.

Recently, Abu Dhabi-based International Holding Co (IHC) said its holding in Adani Enterprises has increased to above 5%.

IHC, in an exchange filing to Abu Dhabi Securities Exchange (ADX), said “This strategic increase reflects IHC's conviction in the world leading incubation model of Adani Enterprises (AEL) and we believe that the inherent strength of airports, data centres, green hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalise on India’s robust growth journey."

However, IHC did not mention the amount invested in the company.

Shares of Adani Enterprises Ltd ended at ₹2,496, down by ₹1.65, or 0.066 percent, on the BSE.

(Edited by : Shoma Bhattacharjee)