AA+ Stable ratings upheld; proposed Rs 2,500 crore debentures rated

New Credit FacilityCredit & Debt View source PDF Explain this filing

TORNTPOWER · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-0.3%Reaction day

₹1160.00

prior close

₹1168.00

announcement price

After-mkt

timing

Nifty Midcap 150market+1.1%-1.3% vs market

Power peers, median of 37sector · industry level+0.3%-0.6% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Midcap 150 and 0.6 pts less than its Power peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.2

10m

-1.5

15m

-1.1

30m

-0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.3+1.1-1.3+0.3-0.6

Next day

+1.7pendingpending+3.0-1.3

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15d

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UpDownMarket · Nifty Midcap 150Sector · Power peers, median of 37Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

India Ratings assigned IND AA+/Stable and CRISIL AA+/Stable to Torrent Power's proposed Rs 2,500 crore non-convertible debentures. Both agencies reaffirmed AA+/Stable long-term and A1+ short-term ratings on existing debt and bank facilities. The net debt ratio rose to 2.0 times in FY26 from 1.4 times; CRISIL expects it to peak above 4 times in FY29-FY30.

Likely market impact

Existing high ratings support funding access and sentiment. The proposed borrowing adds debt, while future leverage remains a key risk.