$121-million Individual bond sale on the anvil for Adani Enterprises

Gautam Adani is planning a maiden bond sale of his flagship firm — Adani Enterprises — to individual investors.

The company has proposed a $121 million public sale of bonds, according to a statement from Care Ratings, which assigned the potential issuance an A+ score. 
 

Adani has been on an acquisition spree this year across sectors as he rapidly seeks to diversify.

Lately, the Adani conglomerate has been getting into areas beyond its traditional mainstay businesses of ports and power plants.

Credit markets have signaled some concerns.

Adani Ports’ seven dollar-denominated notes have lost about 14% on average so far this year, while Adani Electricity Mumbai’s 2030 securities have retreated about 17%.

That compares to a 14.3% decline for Indian dollar debt overall.
 

Adani Enterprises shares have declined 15% after hitting a record high last month.