Adani Power Secures Rs 7,500 Crore in Largest Onshore Bond Issue

• Adani Power successfully raised Rs 7,500 crore through a non-convertible debenture (NCD) issue, marking its largest onshore bond offering.
• The NCD issue attracted significant interest from 17 leading domestic investors, including mutual funds, banks, and insurers like SBI MF, ICICI Bank, Axis Bank, Kotak MF, ICICI MF, Nippon, Tata, and Invesco.
• Investors cited Adani Power's fundamental strength, strong cash flows, and long-term power purchase agreements (PPAs) covering nearly 90% of its operating capacity as key attractions.
• The company plans to use the proceeds for refinancing existing borrowings and general corporate purposes, aiming to expand its capacity from 18 GW to 42 GW by FY32.
• Adani Power boasts a low net debt-to-EBITDA ratio of 1.5 times, significantly better than state-run NTPC and private peers, with operating profit projected to triple by FY30.

Why It Matters: Adani Power successfully raised Rs 7,500 crore, demonstrating strong investor confidence in its financial health and growth.