Torrent Power bags Rs 600 cr via NCDs

New Delhi: Torrent Power has raised Rs 600 crore by issuing non-convertible debentures in the form of a private placement. “The company has issued and allocated Series 11 – 60000 Secured, Qualified, Listed, Taxable, Non-Cumulative, Callable and Non-Convertible Notes (NCD) of Rs600 crore at a coupon rate of 8.50 per cent per annum. placement basis,” a BSE presentation said. The company issued 60,000 NCD of Rs 1 lakh per bond which totals Rs 600 crore. It is proposed to be listed in the Wholesale Debt Market Segment of the National Stock Exchange. Torrent Power, with a turnover of Rs 25,694 crore, is the integrated power company of the diversified Torrent Group. It is one of the largest companies in the country's electricity sector with a presence throughout the value chain of energy generation, transmission and distribution.