CESC board approves Rs 300 crore NCD issuance

CESC Limited will raise Rs 300 crore through 30,000 non-convertible debentures (NCDs) via private placement. Each debenture has a face value of Rs 1 lakh, is senior, secured, rated, unlisted, and carries a three-year tenure.

The NCDs will offer a floating coupon of 3-month Treasury Bill rate plus 2.30% per annum, paid quarterly. In case of default, an extra 2% per annum applies. Allotment is set for September 26, 2025, with redemption on September 26, 2028.

CESC, part of the RP-Sanjiv Goenka Group, operates generation and distribution in Kolkata and nearby regions.

Earlier this year, the company raised Rs 250 crore via NCDs from Axis Bank. CESC Green Power is investing Rs 5,000 crore in clean energy, including a 3-GW solar module and cell factory, a battery plant, and a 60-MW renewable power project.