Adani Power allots INR 7,500 crore NCDs via private placement
ADANIPOWER · price
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On the reaction day the stock moved in line with Nifty 100 and 1.8 pts less than its Power peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Adani Power has allotted 7.5 lakh secured, listed, rated NCDs worth INR 7,500 crore via private placement to identified investors. Face value is INR 1 lakh each, rated AA (Stable) by CRISIL and India Ratings. Coupon rates are 8.00%, 8.20%, 8.30% and 8.40% across four series with tenors of 2, 3, 4 and 5 years. Interest is paid quarterly and principal at maturity. NCDs are secured by first ranking charges on company assets and will list on BSE.
Raises INR 7,500 crore through debt at 8 to 8.4 percent. No equity dilution but adds to existing debt. AA rating signals strong credit quality.