Torrent Power issues NCDs worth Rs.3,800-Cr

Ahmedabad-based, publicly listed Torrent Power has raised INR 3,800 crore through the issuance of non-convertible debentures (NCDs). The company issued these secured, rated, listed, taxable, non-cumulative, redeemable, and non-convertible debentures on a private placement basis.The fundraising was completed through the allotment of 3,80,000 NCDs, which were issued in four tranches. These instruments carry a coupon rate ranging between 8.10 percent and 8.20 percent per annum.Torrent Power has proposed to list the NCDs on the Wholesale Debt Market Segment of the National Stock Exchange.