Torrent Power plans about $500 million bond sale
In short
Torrent Power is planning to sell rupee bonds and raise about $500 million. The report says this comes after an earlier 38 billion rupee issue. The money is meant to help pay for the Nabha Power deal, which is said to cost about 69 billion rupees.
The exact timing and final terms are not stated. It is also not clear how much investor demand there is yet.
What the reporting says
Torrent Power is planning a rupee-denominated bond sale to raise around $500 million, according to bankers cited in the reporting. The move follows an earlier issuance of 38 billion rupees and is tied to funding the planned Nabha Power acquisition for about 69 billion rupees. The report says the company has discussed the deal with potential investors, but timing and final terms are not stated.
Why it matters
Torrent Power plans a rupee-denominated bond sale of around $500 million, after an earlier 38 billion rupee issuance. The reported proceeds would help fund the acquisition of Nabha Power for about 69 billion rupees. The company is said to be talking to investors, but the final size, pricing and timing are not provided.