CESC Approves ₹300 Crore NCD Issue via Private Placement

Kolkata, September 24, 2025: CESC Limited (BSE: 500084, NSE: CESC), a power utility company, has announced that its board of directors has approved raising ₹300 crore through the issuance of 30,000 Non-Convertible Debentures (NCDs) via private placement.

They are redeemable debentures of face value ₹1 lakh, senior, secured, rated, and unlisted debentures with a tenure of 3 years. They will offer a floating coupon rate linked to the 3-month Treasury Bill rate plus a 2.30% per annum coupon rate paid quarterly.

In the event of default, the company will also be required to pay an additional 2% per annum above the coupon rate. The date of deemed allotment has been set as September 26, 2025, while the final redeemable date is scheduled for September 26, 2028.

CESC Limited, a part of the RP-Sanjiv Goenka Group, is a leading vertically integrated power utility with electricity generation and distribution operations with major activities around Kolkata and the surrounding regions.

Recent Fundraising & Expansion Plans

CESC also raised ₹250 crore through non-convertible debentures (NCDs) from Axis Bank during early April 2025 and strengthened its debt profile. Also, the group company CESC Green Power recently announced an investment of ₹5,000 crore in clean energy initiatives. Its investment pipeline comprises a 3-GW solar module and cell factory, a battery factory, a 60-MW renewable power venture, and a number of value-chain initiatives as part of India’s renewable energy transition.

REF: https://nsearchives.nseindia.com/corporate/CESC_24092025104030_Issue_of_Debentures_2.pdf

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