4 months ago
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State Bank of India’s mutual money portion has committed to prime up astatine slightest 10% of Adani Power’s astir $820 cardinal rupee-denominated enslaved issue, apt to beryllium launched aboriginal this week, 3 merchant bankers said connected Wednesday (January 21, 2026).
The communal fund, India’s biggest successful presumption of assets nether management, is acting arsenic 1 of the anchor investors for the issue, with a committedness of 7.50 cardinal rupees, the bankers said, requesting anonymity arsenic they are not authorised to talk to the media.
The planned 75 billion-rupee contented would beryllium the group’s largest-ever rupee enslaved sale.
SBI Mutual Fund and Adani Power did not respond to email queries.
Adani Power is looking to raise 28.60 cardinal rupees done a two-year enactment and 26.90 cardinal rupees via a three-year note. SBI MF volition bargain 4.50 cardinal rupees and 3 cardinal rupees of these papers arsenic the anchor investor, the bankers said.
The Adani portion volition wage a coupon of 8.00% and 8.20% connected the two- and three-year bonds, and 8.30% and 8.40% connected four- and five-year papers.
The remaining 6.75 cardinal rupees and 12.75 cardinal rupees volition beryllium raised done four- and five-year papers, respectively, the bankers said.
Trust Investment Advisors, ICICI Bank and Axis Bank are the arrangers for the issue.
The lenders person volition besides backmost the contented by providing commitments worthy 3.31 cardinal rupees and 3 cardinal rupees, respectively, the bankers said.
The banks did not reply to an email seeking comment.
The bonds are rated ‘AA’ by Crisil and India Ratings, with the coupons acceptable to measurement up by 25 ground points for each notch standing downgrade.
Earlier this fiscal year, different radical company, Adani Ports and Special Economic Zone, raised 50 cardinal rupees by placing 15-year bonds straight with Life Insurance Corporation of India.
