Oriana Power Raises ₹75 Crore Through Private Placement Of Secured Non-Convertible Debentures

Oriana Power Limited has announced a major financial decision following its Board of Directors meeting held on January 5, 2026. The company has approved the issuance and allotment of 7,500 Rated, Unlisted, Senior, Secured, Redeemable, Transferable, Non-convertible Debentures (NCDs). Each debenture carries a face value of ₹1,00,000, making the total value of the issue ₹75 crore. This capital raise is being conducted on a private placement basis, targeting selected investors, and will proceed after obtaining the necessary regulatory approvals.

The NCDs are structured to provide a fixed coupon rate of 11.65% per annum, which will be paid monthly. While the exact date of allotment will be decided after the subscription process and receipt of funds, the tenure of these debentures is set for up to 48 months from the deemed date of allotment. On maturity, the debentures will be redeemed at par value, which will include the principal, any accrued interest at the coupon rate, and applicable penalty charges or fees.

To secure this issuance, Oriana Power Limited has put in place a detailed collateral framework. The debentures are backed by a second-ranking charge on the company’s current assets and unencumbered movable fixed assets through hypothecation. The security package also includes a pledge of shares from certain subsidiaries to the extent of 0.5 times the issuance amount, a charge on an escrow account, and identified receivables from third-party EPCs or SPVs. In addition, undated cheques totaling the issue amount, personal guarantees from promoters, and a Debt Service Reserve Account of ₹5.60 crore have been provided to strengthen investor security.

The NCDs come with specific early redemption provisions. Debenture holders have a “Put Option,” allowing them to request redemption starting June 30, 2027, and every six months thereafter. The company also has a “Call Option” to redeem the NCDs starting December 31, 2027, and every six months after that. Redemption under these options must be completed within 15 days of notice, with no early redemption premium.

The company emphasized that any failure to pay interest or principal on scheduled dates will be treated as an Event of Default. At present, there are no delays or defaults reported regarding interest or principal payments. This disclosure has been made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and compliance with regulatory norms.

The issuance of these NCDs is expected to provide Oriana Power Limited with additional capital for its operations while offering investors a secured investment with attractive returns.