Torrent Power Raises Rs 6 bn through NCDs in Private Placement
POWER & RENEWABLE ENERGY

Torrent Power Raises Rs 6 bn through NCDs in Private Placement

Torrent Power, a leading integrated power utility of the Torrent Group, has successfully raised Rs 6 billion through the issuance of non-convertible debentures (NCDs) on a private placement basis. According to a filing with the Bombay Stock Exchange (BSE), the company has issued and allotted Series 11 - 60,000 Secured, Rated, Listed, Taxable, Non-Cumulative, Redeemable, and Non-Convertible Debentures with a total value of Rs 6 billion, carrying a coupon rate of 8.50 per cent per annum.

Each of these NCDs has a denomination of Rs 0.1 million, resulting in an aggregate value of Rs 6 billion. Torrent Power intends to list these debentures on the Wholesale Debt Market Segment of the National Stock Exchange.

With a turnover of Rs 256.94 billion, Torrent Power is a major player in the power sector in India. The company's operations span the entire power value chain, encompassing generation, transmission, and distribution. Torrent Power's installed generation capacity stands at 4.1 GW, primarily consisting of environmentally friendly sources such as gas (2.7 GW) and renewables (1.07 GW).

Furthermore, Torrent Power has 0.7 GW of renewable capacity currently under development. The company's strategic focus for power generation centers on expanding its presence in the renewables sector, emphasising sustainable growth.

Torrent Power, a leading integrated power utility of the Torrent Group, has successfully raised Rs 6 billion through the issuance of non-convertible debentures (NCDs) on a private placement basis. According to a filing with the Bombay Stock Exchange (BSE), the company has issued and allotted Series 11 - 60,000 Secured, Rated, Listed, Taxable, Non-Cumulative, Redeemable, and Non-Convertible Debentures with a total value of Rs 6 billion, carrying a coupon rate of 8.50 per cent per annum.Each of these NCDs has a denomination of Rs 0.1 million, resulting in an aggregate value of Rs 6 billion. Torrent Power intends to list these debentures on the Wholesale Debt Market Segment of the National Stock Exchange.With a turnover of Rs 256.94 billion, Torrent Power is a major player in the power sector in India. The company's operations span the entire power value chain, encompassing generation, transmission, and distribution. Torrent Power's installed generation capacity stands at 4.1 GW, primarily consisting of environmentally friendly sources such as gas (2.7 GW) and renewables (1.07 GW).Furthermore, Torrent Power has 0.7 GW of renewable capacity currently under development. The company's strategic focus for power generation centers on expanding its presence in the renewables sector, emphasising sustainable growth. 

Next Story
Real Estate

Transforming Real Estate with Sustainable Choices

The times are changing for the construction industry. Once associated with high carbon emissions, energy consumption, and waste, they are now waking up to the environmental cost of traditional practices. Companies are now looking to be a part of the solution instead of the problem. Using recycled materials in building projects is one of the most accessible yet significant changes. This one change has the potential to lower project costs, energy consumption, and landfill usage. Giving Old Materials a New PurposeRecycled building materials aren’t just scraps from old sites. These material..

Next Story
Real Estate

UP Housing Board Finalises 40-Acre Development Plan in Vasundhara

The Uttar Pradesh Housing and Development Board (UPHDB) has finalised a 40-acre development plan in sectors seven and eight of Vasundhara, Ghaziabad, under a mixed land use model. The layout includes a 10-acre satellite centre for the All India Institute of Medical Sciences (AIIMS) and two major plots of 20 and 10 acres for group housing and commercial use. According to officials, the project falls under the Transit-Oriented Development (TOD) zone of the Regional Rapid Transit System (RRTS) corridor, with the Sahibabad Namo Bharat station located nearby. The auction process for the plots is e..

Next Story
Infrastructure Urban

Marubeni To Invest Rs 10 Billion in Telangana’s Future City Industrial Park

Japanese conglomerate Marubeni Corporation has signed a Letter of Intent with the Telangana government to develop a next-generation industrial park in the state’s upcoming Future City. The announcement was made during the official visit of the Telangana Rising delegation, led by Chief Minister A Revanth Reddy, to Japan. Marubeni has proposed an initial investment of Rs 10 billion to develop the industrial park in phases over 600 acres. The park will cater to Japanese and other multinational firms seeking to establish manufacturing operations in Hyderabad. The proposed development is expect..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?