New Delhi: Torrent Power has mobilised Rs 3,800 crore through the issuance of non-convertible debentures (NCDs), the power utility said on Wednesday. The debentures, described as secured, rated, listed, taxable, non-cumulative, redeemable and non-convertible, were raised on a private placement basis, the company disclosed in an exchange filing.
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Torrent Power said it had issued and allotted "Series 15 – 3,80,000 secured, rated, listed, taxable, non-cumulative, redeemable and non-convertible debentures of Rs 3,800 crore" across four tranches.
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The NCDs carry a coupon of 8.10-8.20 percent per annum, according to the company. Torrent Power has proposed to list the debentures on the Wholesale Debt Market Segment of the National Stock Exchange (NSE).