Torrent Power raises Rs 300 crore through NCDs

Torrent Power has raised Rs 300 crore through issuance of non-convertible debentures on a private basis.

In a filing with the stock exchange, Torrent Power said, “The company has issued 3,000 non-convertible debentures (NCDs) of Rs 10 lakh each, aggregating to Rs 300 crore. The rated, taxable, non-cumulative, redeemable NCDs were issued at a coupon rate of 7.30 percent per annum on a private placement basis.”

“The maturity period of the NCDs is about three years, and it is proposed to be listed on the Wholesale Debt Market Segment of NSE,” the filing added.