India's Torrent Power is set ​to inaugurate the first ​acquisition-funded corporate bond sale of the current financial year, ​in what would be the company's largest debt issuance to date, three merchant bankers told Reuters on Thursday.

Listen to this article Austria-based international technology group ANDRITZ has secured an order to equip Gujarat-based Torrent Power’s 3,000 MW Saidongar-1 pumped storage project (PSP) in Karjat,

The Competition Commission of India has approved Torrent Power's acquisition of Nabha Power Ltd. This deal involves Torrent Power acquiring 100 percent equity stakes in Nabha Power. The acquisition will increase Torrent's operational capacity significantly. Nabha Power operates a thermal power plant in Punjab. This approval marks a key step in the transaction.

Gujarat-based Torrent Power has raised ₹20 billion (~$217.05 million) through private placement of secured, non-convertible debentures (NCDs). The debenture issue comprises 200,000 NCDs, each with a face value of ₹100,000 (~$1,085), carrying a coupon rate of 7.97% per annum. These debentures will be listed on the wholesale debt segment of the National Stock Exchange of India. The issue comprises ₹6.8 billion (~$73.79 million) of Series 14A, ₹6.75 billion (~$73.25 million) of Series 14B, and ₹6.45 billion (~$69.99 million) of Series 14C with 8, 9, and 10-year tenors, respectively. The first coupon payment is due on March 9, 2027, followed by annual payments.

The government may soon allow companies like Adani Power, Tata Power, and Torrent Power to compete in the electricity distribution business nationwide.

The analyst cautioned that the stock remains bearish, with key resistance at ₹1,290.

Benchmark indices are set for a weak opening, tracking cues from Asian markets.

Analysts remain watchful of resistance zones despite the strong start, while retail sentiment remains ‘bearish’ on Stocktwits.

Indian auto majors will post their monthly sales data today