Adani Power Launches ₹75 Billion Rupee Bond Issue with SBI Mutual Fund as Anchor Investor

Adani Power plans to raise ₹75 billion through its largest-ever rupee bond issue, offering four non-convertible debentures with maturities from two to five years and coupons between 8.00% and 8.40%. SBI Mutual Fund has committed to anchor at least 10% of the issue, with participation from other mutual funds, banks, and insurance firms. The bonds are rated 'AA' and backed by commitments from ICICI Bank and Axis Bank. Adani Power's stable cash flows and low net debt-to-EBITDA ratio have attracted strong institutional demand.