Mumbai, July 12 -- Adani Enterprises Ltd's ongoing public bond offer was fully subscribed within hours of opening, reflecting demand for such high-rated issues among retail buyers. Yet, it does not suggest an across-the-board surge in such issuances from Indian companies. Experts say non-bank lenders will continue to dominate this category.

Companies with low credit risk, usually rated 'A' or higher, raise money via bonds in two ways. A private placement open to select institutional or wealthy investors, which is the dominant mode of raising debt for Indian corporates. The other way is an initial public offering for all debt investors, a less preferred funding option.

Due to heavier funding requirements, non-banking financial companies ...