Adani Enterprises’ latest non-convertible debenture (NCD) issue worth Rs 1,000 crore was fully subscribed within just three hours of opening on Wednesday, according to stock exchange data. The response came entirely from the non-institutional segment, including retail investors, high net-worth individuals (HNIs), and corporates.The bond issue, which opened on July 9 and was scheduled to close on July 22, may see early closure due to the full subscription, sources told PTI.By 3:30 PM on Wednesday, the offering had received bids exceeding Rs 1,400 crore. This marks the second public issue of secured, rated, listed, redeemable NCDs by Adani Enterprises Ltd (AEL), the flagship company of the Adani Group.Strong retail interest lifts issue“What sets this issue apart is the strong and encouraging participation that has entirely come from the non-institutional segment. Adani, as a brand, is strongly resonating with the retail public,” one of the lead managers was quoted as saying. “Retail NHIs and corporate investors have responded enthusiastically, reaffirming confidence in the company’s credit profile and future outlook.”The NCDs carry an annual interest of up to 9.3%. The base issue size was Rs 500 crore, with an option to retain oversubscription up to Rs 500 crore under the greenshoe option, aggregating to Rs 1,000 crore. Each debenture has a face value of Rs 1,000, with a minimum application of 10 NCDs (Rs 10,000) and in multiples thereafter.Funds to repay existing debtAccording to a July 6 statement from the company, at least 75% of the proceeds will be used to prepay or repay existing debt, while the remainder—up to 25%—will be deployed for general corporate purposes.The NCDs are being offered in eight series with tenures of 24, 36, and 60 months, and investors can opt for quarterly, annual, or cumulative interest payouts.Nuvama Wealth Management Ltd, Trust Investment Advisors Pvt Ltd, and Tipsons Consultancy Services Pvt Ltd are the lead managers for the issue.