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Torrent Power Issues Non-Convertible Debentures Worth ₹20 Billion
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.
cityfalcon.com·25d ago
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Stocks in news: IndiGo, RIL, Torrent Power, ideaForge, NTPC Green
Indian markets experienced a sharp sell-off, extending the downtrend amid global concerns and geopolitical tensions. Nifty faces immediate support at 23,500, with resistance expected around 24,000-24,300. IndiGo flights faced airspace issues, while Reliance Retail acquired 'Pahadi Local'. Torrent Power raised Rs 2,000 crore via NCDs, and ideaForge began drone training for NATO personnel.
cityfalcon.com·26d ago
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Uttar Pradesh Emerging As A Green Energy Hub Under The Leadership Of CM Yogi Adityanath
The Uttar Pradesh government has initiated green hydrogen projects in Gorakhpur and Rampur to promote clean energy. A 0.5-MW pilot plant by Torrent Power will produce about 9 kg of hydrogen per hour, while another facility by Zero Footprint Industries Private Limited will have a capacity of around 22.5 kg per hour.
cityfalcon.com·26d ago
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Supreme Court says repeated challenges by unsuccessful bidders erode IBC’s framework
The SC upheld the resolution plan of Sarda Energy & Minerals Ltd for SKS Power Generation (Chhattisgarh) and dismissed appeals filed by Torrent Power, Jindal Power and Singapore-based Vantage Point Asset Management
cityfalcon.com·1mo ago
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Torrent Power buys L&T's Punjab plant in Rs 7,000 crore deal
Torrent Power is acquiring L&T's Punjab coal plant for Rs 6,889 crore, marking its significant entry into North India's power market. This Rs 3,661 crore cash deal, which also assumes Rs 3,228 crore debt, will boost Torrent's operational capacity to 6.4GW.
cityfalcon.com·2mo ago
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