Torrent Power raises ₹600 cr. via non-convertible debentures

Torrent Power has raised ₹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 (NCD) Notes of Rs ₹600 crore at a coupon rate of 8.50% per annum. placement basis,” a BSE presentation said.

The company issued 60,000 NCD of ₹1 lakh per bond which totals ₹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 utility 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.

Torrent Power has an aggregate installed generation capacity of 4.1 GW, which largely consists of clean generation sources such as gas (2.7 GW) and renewables (1.07 GW).

It also has a renewable capacity of 0.7 GW under development. Torrent's growth focus in power generation continues to be on renewables.

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