Torrent Power raises Rs 700 cr via NCDs

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. PTI KKS TRB