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Listen to this article in summarized format The NCD will have two components and end roughly in three years. The company will raise ₹3,240 crore through Series A debentures and another ₹275 crore through Series B debentures. Both series carry a fixed coupon of 11.75%. The NCD issue is scheduled to open and close on September 17. Read more: Sebi plans shorter disaster recovery drills, stronger backup rules for exchanges Proceeds from both the NCDs and the proposed ECB will be used to refinance existing liabilities. The proceeds of the debt will be used to pay Brookfield investment $685 million, $80 million to retire outstanding CP at AVPL and the balance towards transaction expenses, according to an India Ratings report. Brookfield, through its Global Energy Transition Fund, had committed $1 billion to AVPL in 2023 and has infused $400 million through OCDs as of March 31, 2026 and the balance commitment will come under a new structure and specific end-use requirements under discussion. The OCDs have a tenor of over eight years through FY32, with no annual coupon payouts and redemption triggered only by an event of default or liquidity event. Read more: Prashant Jain’s 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPO A company spokesperson did not immediately respond to a request for comment. The ECB facility, which is proposed to be senior and secured, can be raised in one or more tranches, sources said adding that $398 million with banks including Barclays Bank, DBS Bank and other potential lenders. Avaada had earlier obtained shareholder approval to issue up to ₹4,600 crore of NCDs. Avaada is required to complete a monetisation event within 18 months of execution of the debenture trust deed. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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