Adani Power Plans Rs 7,500 Crore NCD Issue with Strong Institutional Demand

Adani Power plans to raise up to Rs 7,500 crore through non-convertible debentures (NCDs) with maturities of two to five years, targeting institutional investors including mutual funds, banks, and insurance firms. The bond issue, arranged by ICICI Bank, Axis Bank, and Trust Group, aims to refinance debt and support operations. Adani Power operates 18 gigawatts of thermal capacity and intends to expand to 42 gigawatts by 2032. The company’s net debt-to-EBITDA ratio of 1.5x is lower than many peers, attracting strong investor demand.