Torrent Power Share Price in Focus; Raises ₹3,800 Crore Via NCD Issue

Torrent Power Limited has announced the issuance and allotment of 3,80,000 non-convertible debentures (NCDs) amounting to ₹3,800 crore, as per the exchange filings.  

These debentures are issued on a private placement basis and are secured, rated, listed, taxable, non-cumulative, redeemable, and non-convertible. 

Torrent Power NCD’s Issue Details 

The issuance involves 3,80,000 NCDs, each valued at ₹1 lakh, aggregating to a total of ₹3,800 crore. The NCDs are set to be listed on the Wholesale Debt Market Segment of the National Stock Exchange of India Limited. The debentures are divided into 4 tranches: Tranche A, B, C, and D, with varying maturity periods ranging from 3 to 10 years. 

Coupon Rates and Payment Schedule of NCDs 

The coupon rates for the debentures are set as follows: 8.10% p.a. for Tranche A, 8.15% p.a. for Tranche B, and 8.20% p.a. for both Tranche C and D.  

The first coupon payment is scheduled for June 24, 2027, with subsequent payments to be made annually until the redemption of each respective series. 

Security and Charge Details 

The debentures are secured by a first pari passu charge on all present and future movable and immovable assets of the company, excluding certain assets related to renewable projects and specific properties.  

A second charge over the security is available to entities providing hedging contracts to the company. The type of charge includes mortgage and hypothecation, with security to be created upfront and perfected within 30 days from creation. 

Special Rights and Conditions 

In the event of a rating downgrade, the coupon rate will increase by 0.25% for each notch below the current rating. Conversely, if the rating is upgraded, the coupon rate will decrease by 0.25% per annum for each notch of upgrade, subject to a cap of the original coupon rate. If the rating drops to “BBB+” or below, debenture holders can call for accelerated redemption. 

Read More: Godrej Industries Share Price Gains Over 2%; Board Approves Allotment of NCD’s Worth ₹1,000 Crore! 

Default and Redemption Terms 

In case of default in payment of interest or principal, an additional interest of 2% per annum over the coupon rate will be charged for the defaulting period. The redemption of debentures is scheduled as per the maturity dates specified for each tranche. 

Torrent Power Share Price Performance 

As of June 24, 2026, at 3:30 PM, Torrent Power share price on NSE was closed at ₹1,444.20, down by 0.73% from the previous closing price. 

Conclusion 

Torrent Power has issued 3,80,000 non-convertible debentures worth ₹3,800 crore, with coupon rates ranging from 8.10% to 8.20% p.a. The debentures are secured by a first pari passu charge on assets and are subject to specific conditions in case of rating changes. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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. 

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