Adani Transmission raises Rs 500 crore via NCDs

Adani Transmission Ltd, a part of business conglomerate Adani Group, today said it has raised Rs 500 crore through issuance of non-convertible debentures on private placement basis.

"The company has raised Rs 500 crore... By allotment of 5,000 rated, listed, taxable, secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 10,00,000 each in three series on private placement basis," Adani Transmission said in a BSE filing.

The NCDs will be listed on the Wholesale Debt Market segment of BSE, it added.

The company had reported a consolidated net profit of Rs 79.94 crore for the December quarter.

Adani Transmission is a leading private sector company with over 5,000 circuit kms of operational lines across the western and northern regions of India along with 12,000 MVA capacity.

"With the thrust announced by the government in the Tariff Policy on the optimum development of the transmission network ahead of generation and attracting investments in the transmission sector, Adani Transmission Ltd is well poised to leverage benefits of new opportunities and create value for its stakeholders," Adani Group Chairman Gautam Adani had earlier said.