India New Issue-Adani Energy Solutions unit to issue bonds, bankers say

Adani Energy Solutions

25/06/2025 03:58

MUMBAI, June 25 (Reuters) - India's Lakadia Banaskantha Transco, a special purpose vehicle wholly owned by Adani Energy Solutions ADAI.NS, plans to raise 5.79 billion rupees ($67.3 million) through the sale of multiple maturity longer-duration bonds, three bankers said on Wednesday.

The company will issue bonds maturing in 17 years and 9 months and in 19 years and 3 months and has invited coupon and commitment bids for the issue on July 1, they said.

The first option has a put/call option at the end of five years and every year thereafter.

Adani Energy Solutions did not reply to a Reuters email seeking comment.

 Here is the list of deals reported so far on June 25:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Lakadia Banaskantha Transco
17 years and 9 months
7.70 (quarterly)
4.79
July 1
AAA (Crisil, Icra)
Lakadia Banaskantha Transco
19 years and 3 months
7.84 (quarterly)
1
July 1
AAA (Crisil, Icra)
ICICI Bank
15 years
To be decided
5+5
June 26
AAA (Care, Icra)

*Size includes base plus greenshoe for some issues

($1 = 85.9780 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

 ((Dharamraj.dhutia@tr.com))