Torrent Power stock: Bond plan targets Nabha Power deal
Published on 11/06/2026 at 03:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFinancing plan shapes Torrent outlook
- Torrent Power is considering a multi-year rupee bond sale to support its Nabha Power acquisition.
- The financing would diversify the utility's funding sources beyond bank borrowing.
- Investors are awaiting firm commitments before the proposed issue can proceed.
Torrent Power is considering a rupee-denominated bond sale to help finance its acquisition of Nabha Power, according to a Reuters report published by The Economic Times on Thursday, October 15, 2026. Three bankers told Reuters that the proposed issue could span three-, five-, seven- and ten-year maturities.
Bond proceeds target Nabha acquisition
The bankers said Torrent Power was considering bonds worth INR 45 billion to INR 50 billion. The proceeds were earmarked for the acquisition of Nabha Power, a coal-fired power operator owned by Larsen & Toubro, for about INR 69 billion including debt.
The company had already raised INR 38 billion through a similar structure in June. That issue included maturities of three, five, seven and ten years, with coupons ranging from 8.10 percent to 8.20 percent, according to the report.
Funding diversification remains central
The proposed transaction would give Torrent Power another source of long-term financing as it expands its generation portfolio. A banker cited in the report said the company had started speaking with investors and could proceed before the end of October once it secured firm commitments. The report also noted that the company had not immediately responded to a request for comment.
Torrent Power stock remains relevant to investors assessing how the Nabha transaction may affect leverage, financing costs and future generation capacity. The proposed issue was described as a plan, not a completed bond sale.
Integrated Indian power utility
Torrent Power generates, transmits and distributes electricity in India, with thermal and renewable assets. Its direct distribution operations cover cities and industrial regions including Ahmedabad, Gandhinagar, Surat and Dahej, while franchise operations extend across parts of Maharashtra, Uttar Pradesh and other Indian states. The company also manufactures and supplies power cables and is headquartered in Ahmedabad.
Torrent Power at a glance
- Company: Torrent Power Limited
- ISIN: INE813H01021
- NSE ticker: TORNTPOWER
- Sector: Utilities
- Head office: Ahmedabad, India
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