Adani Power has successfully allotted secured, listed, rated, taxable, non-cumulative, redeemable non-convertible debentures aggregating to ₹7,500 crore. This allotment, finalized on January 27, 2026, follows an earlier board approval for fund raising through debt securities. The debentures, with a face value of ₹1,00,000 each, were issued via private placement to identified investors and are rated “AA (Stable)”.
Debenture Allotment Details
Adani Power’s board had previously approved raising funds through the issuance of debt securities. Continuing this initiative, the management committee has now formally allotted 7,50,000 secured, listed, rated, taxable, non-cumulative, redeemable, non-convertible debentures. These “Debentures” each hold a face value of ₹1,00,000.
Financial and Strategic Impact
The total value of the debentures allotted amounts to ₹7,500 crore, raised in cash through private placement targeting identified investors. The debentures are issued in dematerialized form. These debentures are rated “AA (Stable)” by CRISIL Ratings Limited and India Ratings & Research Private Limited, signalling strong creditworthiness.
Key Terms and Conditions
The debentures are structured across multiple series with varying tenors and coupon rates:
- Series I: 2 years, coupon rate of 8.00%, issue size of ₹2,860 crore
- Series II: 3 years, coupon rate of 8.20%, issue size of ₹2,690 crore
- Series III: 4 years, coupon rate of 8.30%, issue size of ₹675 crore
- Series IV: 5 years, coupon rate of 8.40%, issue size of ₹1,275 crore
Interest payments are scheduled quarterly from the date of allotment. Principal will be repaid on the maturity date of each respective series. The allotment occurred on January 27th, 2026, with maturity dates varying by series.
Security and Charge
The debentures are secured through a first-ranking pari passu charge on movable fixed assets, current assets, and insurance proceeds. This includes hypothecation on various assets, offering a layer of security to debenture holders.
Source: BSE
