Torrent Power Secures ₹2,000 Crore via Private Placement of 7.97% Coupon NCDs

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Torrent Power Secures ₹2,000 Crore via NCDs at 7.97% Coupon Rate

Torrent Power Secures ₹2,000 Crore via NCDs at 7.97% Coupon Rate

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CNBC TV18•09-03-2026, 18:52

Torrent Power Secures ₹2,000 Crore via NCDs at 7.97% Coupon Rate

•Torrent Power Ltd raised ₹2,000 crore through the private placement of 2 lakh secured, rated, listed NCDs.
•The debentures, issued under Series 14, carry an annual coupon rate of 7.97%.
•The issue is divided into three tranches (Series 14A, 14B, 14C) with tenures of 8, 9, and 10 years, maturing from 2034 to 2036.
•Interest will be paid annually, and the NCDs are secured by a first pari passu charge on the company’s movable assets.
•The coupon rate will adjust based on credit rating changes, and accelerated redemption is possible if the rating drops to "BBB+" or below.

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