Torrent Power has received approval for raising of funds by way of issuance of Equity Shares and/or Convertible Bonds and/or Convertible Debentures and/ or other securities convertible into equity shares at the option of the Company through private placement offering or a Qualified Institutional Placement (QIP) upto Rs 5000 crore in one or more tranches, subject to approval of the Members in the ensuing AGM of the Company.
The company also received approval for raising of funds by way of issuance of Non-Convertible Debentures (NCDs) upto Rs 3000 crore in one or more tranches by way of Private Placement. The Board of Directors of the company, at its meeting held on May 22, 2024, has considered and approved the same.
Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.
