Adani Power is planning to raise up to ₹7,500 crore through a non-convertible debenture (NCD) issue, according to The Economic Times reports. The funds will be raised from institutional investors through the domestic bond market.
The company is entering the market at a time when demand for corporate debt has remained stable, supporting fresh issuances by large borrowers.
The proposed NCD issue is likely to be launched within the next 3 to 4 days. The fundraising is expected to be carried out in a single tranche with multiple maturity options.
Final terms, including pricing, will be decided closer to the launch based on market conditions at the time.
Adani Power plans to offer NCDs with tenors of 2, 3, 4 and 5 years. Axis Bank, ICICI Bank and Trust Group are acting as arrangers for the proposed issuance.
The bonds are expected to be placed with institutional investors, which typically form the bulk of demand for such debt instruments.
Proceeds from the NCD issue are likely to be used mainly to refinance existing borrowings, along with meeting general corporate requirements. Refinancing is commonly used to replace existing debt or adjust repayment schedules.
As per the latest available data, the company’s gross debt stood at around ₹36,000 crore.
Adani Power reported EBITDA of about ₹23,000 crore, reflecting its operating scale in the thermal power segment. Thermal assets continue to account for the majority of its generation portfolio.
The company operates multiple power plants across different locations, supplying electricity under long-term and short-term arrangements.
The proposed fundraising is being undertaken alongside the company’s stated capacity expansion plans. Adani Power has indicated that it aims to raise its total generation capacity to 42 gigawatts by 2032.
Such expansion is expected to be carried out in phases, supported by internal accruals and external borrowings.
As of January 21, 2026, 9:25 am, Adani Power share price was trading at ₹138.30 on the NSE, a 0.60% increase from the previous closing price.
Read More: NCLAT Upholds Adani Power's ₹4,000 Crore Resolution Plan for Vidarbha Industries!
The ₹7,500 crore NCD issue is intended to support Adani Power’s refinancing and regular funding needs. The transaction is expected to be completed in the near term, subject to market conditions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 21, 2026, 11:54 AM IST
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