Adani Power's Rs 7,500-Crore NCD Offering Attracts Strong Institutional Demand

• Adani Power's Rs 7,500-crore Non-Convertible Debenture (NCD) offering saw significant demand from domestic institutional investors.
• Mutual funds like SBI Mutual Fund, ICICI Prudential, and Axis Mutual Fund, along with banks such as ICICI Bank and Axis Bank, anchored the NCD.
• The NCDs have maturities ranging from two to five years and coupon rates between 8% and 8.4%.
• Adani Power's strong operating cash flows, low leverage (net debt-to-EBITDA of 1.5x), and growth trajectory are key attractions for investors.
• The company plans to expand its capacity to 42 GW by FY32 from the current 18 GW, supported by internal accruals.

Why It Matters: Adani Power's NCD offering received robust institutional interest due to strong financials and growth prospects.