Adani Power's Rs 7,500 Crore NCD Offering Oversubscribed by MFs, Private Banks

• Adani Power's Rs 7,500 crore non-convertible debenture (NCD) offering for domestic institutional investors was quickly subscribed.
• Mutual funds led the subscription, with 10 MFs investing Rs 4,875 crore; SBI MF alone purchased NCDs worth Rs 2,500 crore.
• Private banks like ICICI Bank and Axis Bank subscribed to NCDs worth Rs 2,100 crore.
• Investor demand was driven by Adani Power's integrated business model, expansion plans to 42 GW by FY32, and conservative balance sheet (net debt-to-EBITDA 1.6x).
• The strong subscription occurred despite recent SEC actions regarding alleged fraud and bribery against Gautam Adani and Sagar Adani.

Why It Matters: Adani Power's Rs 7,500 crore NCD offering saw strong demand from MFs and private banks.