Torrent Power Raises Rs 700 Cr via NCDs - Business News
Feb 28, 2024 19:00
Torrent Power has raised Rs 700 crore through Non-Convertible Debentures (NCDs) issued on a private placement basis. The NCDs will be listed on the NSE's wholesale debt market segment.
New Delhi, Feb 28 (PTI) Torrent Power on Wednesday said it has raised Rs 700 crore through Non-Convertible Debentures (NCDs) issued on a private placement basis.
The NCDs are proposed to be listed on wholesale debt market segment of the NSE, a regulatory filing said.
According to the statement, the company has issued and allotted Series 13 -- 70,000 secured, rated, listed, taxable, non-cumulative, redeemable NCDs of Rs 700 crore at a coupon rate of 8.32 per cent per annum on a private placement basis.
The first coupon will be paid on February 28, 2025 and subsequent coupon payments will be made on an annual basis, the statement added.
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