Adani Power Raises ₹7,500 Crore via NCDs, Offers Up to 8.40% Coupon

Mumbai: Adani Power Limited has successfully allotted secured, listed, rated, taxable, non-cumulative, redeemable non-convertible debentures (NCDs) aggregating to ₹7,500 crore on a private placement basis, the company informed stock exchanges.

The allotment was approved by the management committee of the Board on January 27, 2026, following the Board’s earlier approval for debt fundraising in January 2025. The issue comprises 7,50,000 NCDs with a face value of ₹1 lakh each, issued in dematerialised form.

The NCDs have been issued in four series with tenures ranging from 2 to 5 years, carrying coupon rates between 8.00% and 8.40%. The debentures are secured by first-ranking pari passu charge on specified movable assets, current assets, insurance proceeds, and identified land parcels of the company.

The instruments have been rated “AA (Stable)” by CRISIL Ratings Limited and India Ratings & Research Private Limited and will be listed on BSE Limited.