Torrent Power planned INR 50 billion issue: Oswal set INR 1,270 target for Torrent Power stock

Published on 10/19/2026 at 01:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Torrent Power planned INR 45.0 billion to INR 50.0 billion of bonds for Nabha Power. Motilal Oswal set an INR 1,270 target for Torrent Power stock.

Capital funding and earnings

Torrent Power planned a bond issue of INR 45.0 billion to INR 50.0 billion on October 15, 2026.
Revenue reached INR 81.24 billion in the first quarter of fiscal 2027.
Motilal Oswal assigned an INR 1,270 target on September 30, 2026.

Torrent Power, INE813H01021, Illustration mit AI erstellt.

Torrent Power (ISIN INE813H01021) planned a bond issue of INR 45.0 billion to INR 50.0 billion on October 15, 2026, to help fund the acquisition of Nabha Power, as The Economic Times reported. The proposed maturities run from three to ten years, putting financing structure alongside the company's expansion plans.

Bond funding follows two issues

The chronology shows a rising funding scale. On March 31, 2026, Torrent Power reported revenue of INR 64.06 billion for the fourth quarter of fiscal 2026, while on June 30, 2026, revenue reached INR 81.24 billion in the first quarter of fiscal 2027, according to The Economic Times. On October 15, 2026, the company was reported to be considering the INR 45.0 billion to INR 50.0 billion bond issue. The same report said Torrent Power had raised INR 38.0 billion through a similar structure in June 2026.

What does the target imply?

Motilal Oswal initiated coverage with a Neutral rating and an INR 1,270 target on September 30, 2026, according to DSIJ. The broker said transmission and distribution contributed 62 percent of EBITDA in fiscal 2026, while licensed-distribution losses stood at 2.3 percent. Its valuation also highlights execution risk: projected cumulative capital expenditure was INR 377.0 billion for fiscal 2027 through fiscal 2029.

The next disclosed timing is the proposed bond issue before the end of October 2026, as reported by The Economic Times. The financing decision matters because Nabha Power adds a large conventional asset while renewable capacity remains a central part of the growth case.

Stock context and valuation

The last available NSE quote was INR 1,226.30 on October 16, 2026 at 3:57 p.m. IST. Torrent Power's market capitalization was INR 616.3 billion on October 16, 2026, while its 52-week range was INR 1,165.00 to INR 1,824.10. The funding plan therefore arrives alongside a valuation debate rather than a simple earnings story.