India New Issue-India's Torrent Power to issue multiple tenor bonds

Torrent Power

19/06/2026 07:58

    MUMBAI, June 19 (Reuters) - India's Torrent Power TOPO.NS plans to raise 38 billion Indian rupees ($402.15 million) through sale of bonds maturing in three years, five years, seven years and 10 years, three merchant bankers said on Friday. 
The power company will pay an annual coupon of between 8.10% and 8.20% on these tenors, and has invited commitment bids on Tuesday, they said. 
In April, Reuters had reported that the company  will launch its largest-ever corporate bond issue to fund the acquisition of Nabha Power, which was approved by India's competition regulator in April.
The company did not immediately reply to a Reuters email seeking comment. 
 
 Here is the list of deals reported so far on June 19: 

            Issuer
          

            Tenure
          

            Coupon (in %)
          

            Issue size (in bln rupees)*
          

            Bidding date
          

            Rating
          
Torrent Power 
3 year
8.10
7.5
June 23
AA+ (Crisil, India Ratings)
Torrent Power 
5 year
8.15
10
June 23
AA+ (Crisil, India Ratings)
Torrent Power 
7 year
8.20
10
June 23
AA+ (Crisil, India Ratings)
Torrent Power 
10 year
8.20
10.5
June 23
AA+ (Crisil, India Ratings)

*Size includes base plus greenshoe for some issues



($1 = 94.4925 Indian rupees)

 (Reporting by Dharamraj Dhutia and Khushi Malhotra)
 ((Dharamraj.dhutia@tr.com))