Torrent Power announced successful completion of its Rs 3,500 crore (approx. USD 413.20 million) Qualified Institutions Placement (QIP). The issue garnered significant response from investors including domestic mutual funds, global investors and insurance companies, demonstrating their strong confidence in the Company`s fundamentals and India`s power sector. The QIP saw a very strong demand of approximately 4x the size of the issue (receiving bids of about Rs. 14,000 Crores) against the base issue size of Rs 3,500 Crores from a mix of international and domestic investors. The entire issue was placed with marquee long only investors such as SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Bank and Amundi. This marks the maiden equity raise by the Company and first equity raise in last three decades by the Torrent Group. Torrent Power`s QIP is one of the largest fund raise conducted by a private utility player in India during the current financial year. Powered by Capital Market - Live News

Torrent Power has allotted 2,32,86,759 equity shares to the eligible qualified institutional buyers at the issue price of Rs 1503 per equity share (including a premium of Rs 1493 per Equity Share) which is at a discount of Rs 52.75 per Equity Share i.e. 3.40% to the floor price of ₹ 1555.75 per equity share as determined in terms of the SEBI ICDR Regulations, aggregating to approximately Rs 3500 crore, pursuant to the QIP issue.With this allotment, the paid up equity share capital stands increased to Rs 503,90,35,430 comprising of 50,39,03,543 equity shares of Rs 10 each. Powered by Capital Market - Live News

Torrent Power has opened today a qualified institutional placement (QIP) issue of equity shares of face value of Rs 10 each at the floor price of Rs 1555.75 per equity share. Powered by Capital Market - Live News

Net profit of Torrent Power declined 8.53% to Rs 481.03 crore in the quarter ended September 2024 as against Rs 525.89 crore during the previous quarter ended September 2023. Sales rose 3.09% to Rs 7175.81 crore in the quarter ended September 2024 as against Rs 6960.92 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales7175.816960.92 3 OPM %16.8217.55 - PBDT1059.671082.41 -2 PBT688.68740.67 -7 NP481.03525.89 -9 Powered by Capital Market - Live News

Torrent Power will hold a meeting of the Board of Directors of the Company on 13 November 2024Powered by Capital Market - Live News