Torrent Power raises Rs 300 cr via NCDs

Torrent Power on Monday said it has raised Rs 300 crore by issuing non-convertible debentures on private placement basis. The company has issued 3,000 non-convertible debentures (NCDs) of Rs 10 lakh each aggregating to Rs 300 crore, it said in a BSE filing.

Torrent Power on Monday said it has raised Rs 300 crore by issuing non-convertible debentures on private placement basis.  The company has issued 3,000 non-convertible debentures (NCDs) of Rs 10 lakh each aggregating to Rs 300 crore, it said in a BSE filing. The rated, listed, taxable, non-cumulative, redeemable NCDs were issued at a coupon rate of 7.30 per cent per annum on private placement basis, it said.

The maturity period of the NCDs is three years. The NCDs are proposed to be listed on the Wholesale Debt Market Segment of NSE.