Torrent Power raises Rs 6 billion via NCDs

Torrent Power Limited has raised Rs 6 billion through the issuance of non-convertible debentures (NCDs) on private placement basis. The company has issued and allotted Series 11–60,000 secured, rated, listed, taxable, non-cumulative, redeemable NCDs at a coupon rate of 8.5 per cent per annum. It is proposed to be listed on National Stock Exchange of India Limited’s wholesale debt market segment. 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).

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