Torrent Power, a prominent power producer in India, is preparing for its largest corporate bond issuance to date, aiming to raise up to ₹40 billion (around $421.8 million). This move marks the first acquisition-funded bond sale of the financial year. The company intends to utilize the proceeds to acquire Nabha Power, which operates a 1,400-megawatt coal-based power plant in Punjab. This acquisition follows the approval from India's competition regulator and is part of Torrent Power's strategy to expand its thermal portfolio amid rising electricity demand in the country. The bonds, expected to be issued in May, are rated AA+ by Crisil and India Ratings, and may feature staggered redemptions similar to previous issuances. In March, Torrent Power successfully raised ₹20 billion through staggered redemption bonds, indicating strong market interest in its financial instruments.