Adani Power raises Rs 330 crore through NCDs

These non-convertible debentures will be listed on the wholesale debt market of BSE

Adani Power said Wednesday it has raised Rs 330 crore by allotments of non-convertible debentures (NCDs) on a private placement basis.

"The company raised Rs 330 crore on May 10, 2016, by allotment of 3,300 rated, listed, redeemable, zero coupon, non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each on a private placement basis," Adani Power said in a BSE filing.

The said NCDs will be listed on the wholesale debt market of BSE.

Last week, the company had said its board has approved raising Rs 10,000 crore through issuance of equity shares, bonds and other instruments through private placement.

The board had also approved raising money through issuance of secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company.

The board's approval is for raising money in the next 12 months.