Torrent Power Raises Rs 3,800 Crore via NCD Issuance

$TORNTPOWER on Wednesday successfully raised Rs 3,800 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. The company issued and allotted 3,80,000 secured, rated, listed, taxable, non-cumulative, redeemable NCDs across four tranches. The NCDs carry an attractive coupon rate of 8.10-8.20 per cent per annum. The power utility plans to list these instruments on the Wholesale Debt Market Segment of the National Stock Exchange (NSE). This fresh capital infusion will strengthen Torrent Power’s balance sheet, support ongoing capital expenditure, and fuel its growth initiatives in the power generation and distribution segments amid rising energy demand in India.