Torrent Power raises Rs 6 billion via NCDs

Torrent Power Limited has raised Rs 6 billion through issuance of non-convertible debentures (NCDs) on private placement basis.
The company has issued and allotted Series 11 – 60000 secured, rated, listed, taxable, non-cumulative, redeemable and NCDs at a coupon rate of 8.50 per cent per annum. It is proposed to be listed on wholesale debt market segment of National Stock Exchange of India Limited. Notably, Torrent Power has an aggregate installed generation capacity of 4.1 GW, which consists majorly of clean generation sources such as gas (2.7 GW) and renewables (1.07 GW).