HomeBusinessTorrent Power raises Rs 300 crore through NCDs

Torrent Power raises Rs 300 crore through NCDs

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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.”

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“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.

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.
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