Adani Power Plans To Raise As Much As $595 Mln Via Debentures

(The Corner Office Journal) -- Adani Power Ltd. plans to raise as much as 5,000 crore rupees ($595 million) via public issue or private placement of non-convertible debentures (NCDs).

The company’s board will meet on Monday (28 October) to consider raising funds, Adani Power said in a stock exchange announcement. The Indian power producer may issue the NCDs in one or more tranches.

Adani Power said the issuance will be subject to receipt of requisite regulatory and other approvals.

Note: $1 = 84.0845 Indian rupees

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